macOS Monterey 12.3 Beta 2 Appears to Fix Bluetooth-Related Battery Drain Issue During Sleep Mode

Following the release of macOS Monterey 12.2 last month, some Mac users who installed the software update started to experience excessive battery drain during sleep mode, seemingly due to Bluetooth accessories frequently waking up the machines. The issue appears to affect Macs running the first beta of macOS 12.3 as well.
Many affected users found their Mac's battery life dropped from 100% to 0% while in sleep mode overnight. A few users tried to identify a cause in Terminal and found that Bluet