Since Big Sur, the printtool process has been sandboxed, with the result that it's now so secure, it can't do anything.
As a consequence, PDF Services (items in ~/Library/PDF Services) no longer work.
An alias to a folder outside the user domain, such as /Users/Shared/, no longer saves the PDF file to that location.
Shell scripts, python, and even compiled Swift binaries no long run.
Even Automator Print plug-ins no longer function.
Adding printtool to Full Disk Access doesn't work either.
("If in doubt, add the process to Full Disk Access.")
The ability to process PDFs directly from the print dialog goes back to Tiger (I think) and has been massively useful for years.
Yes, I suppose some malware could save a script to the user PDF Services folder, and then some unwitting user could run it from the print dialog, but....
At the very least, some new documentation about how PDF Services are now supposed to work would be crucial.