I decided to try the Monarch Pro Kevlar with my S22 Ultra since I don't have my S23 Ultra yet, and I can say the following:
First, I have the Whitestone Dome glass protector on, with screen sensitivity on high in the settings.
With the case on, the S Pen seems to work fine - no issues in drawing.
When I put a magnetic ring to the Magsafe ring on the back, the S Pen does still work, but I notice that sometimes if I glide the pen just slightly on the screen with no or little pressure, certain parts might not register.
Not entirely scientific, and most likely moot anyway, given this price point, but thought someone may find it useful at least on the S22 U.