For Android 12 it is better to ask those who have done it (and who have stayed in 12 but there are not many of them), I am staying in 11 for the moment, I would reconsider the question for Android 13, whatever the brand of the devices I've seen in Android 12 the interface doesn't suit me.
The main disadvantage is the loss of time if Android 12 does not suit you, but there is an advantage, because if you return to Android 11, the deletion of apps and data is total, you find a brand new smartphone 🙂
There is no version after .231, it's the latest for Android 11 and I'd be surprised if ASUS released a new one.