The ISO has been released for new installs, upgrades from 21.10 are not yet opened up which is normal. The earliest they'll open up is next week just like every prior cycle.
For users of 20.04 LTS, the release-upgrade will not be seen until after the release of Ubuntu 22.04.1 LTS as per documentation and prior cycles; ie. about a further three months wait - as it's assumed LTS users prize stability.
If you look at the file https://changelogs.ubuntu.com/meta-release you'll see why you're getting the behavior you're experiencing; as Ubuntu Release Team make that change (allowing upgrades) when they deem it fit and ready for existing users.
At this moment in time, as stated, Ubuntu 22.04 LTS is deemed fit for new installs.
If you don't want to wait; you can use the -d
option which will cause the following file to be used instead https://changelogs.ubuntu.com/meta-release-development thus the path will be seen.
Those files will be changed when the Ubuntu Release Team deem the systems ready for users, the aim of which is to ensure stability for existing users.