That looks like the icon you get when you have a 32-bit version of an app that can no longer run.
Check that you don't have an old version of Keyboard Maestro on your Mac somewhere.
I just went and checked my Monterey app, and sure enough it was doing the same thing in the Notifications. I restarted, and it went back to normal.
I forgot to follow my own advice, which is after any update, restarting one more time to get a fully clean restart.
Failing that, you can try going to the Applications folder, quit Keyboard Maestro and Keyboard Maestro Engine, then duplicate the Keyboard Maestro.app, trash the old one and empty the trash, and then rename the copy back to Keyboard Maestro.app.