Typically, this will download the installer into the /Applications folder.

macOS Monterey AppStore
OR
Run the Install.pkg on macOS
Install.pkg file to install the macOS installer application in the Applications folder.hdiutil create -o /tmp/Monterey -size 16384m -volname Monterey -layout SPUD -fs HFS+J
Output of this command:
created: /tmp/Monterey.dmg
hdiutil attach /tmp/Monterey.dmg -noverify -mountpoint /Volumes/Monterey
Output of this command:
/dev/disk5 Apple_partition_scheme
/dev/disk5s1 Apple_partition_map
/dev/disk5s2 Apple_HFS /Volumes/Monterey