After a Monterey update: for the guys trying "System Preferences" -> "Accessibility" -> "Pointer Control" -> uncheck "Ignore built-in trackpad when mouse or wireless trackpad is present", and finding the box was never checked in the first instance, using a USB mouse or bluetooth trackpad, check the box. Reboot and using the USB mouse or bluetooth trackpad, uncheck the box and reboot again.
Built-in trackpad was working again for me.