Apple has pushed the third macOS Monterey 12.5 beta to developers. Apple hasn’t released any release notes yet, so it’s likely there aren’t any obvious new features.
Update 24-6: Apple has released the fourth beta for macOS 12.5.
macOS Monterey 12.4 was similarly light on new features, with minor updates to the Podcasts app and a firmware update to the Studio Display. The update also pulled Universal Control out of beta and included over 50 security patches, so it’s an important update to install.
The 12.5 beta will be available to developers first, and the public beta will arrive shortly after. To try the beta, you can register for the public beta program on your Mac.