I am doubtful that the origin of the problem is in the IDE. Otherwise we would see many reports of this problem. More likely it is a problem with the configuration of your computer.
I'm sure it is possible to fix it.
No. The reason is that Arduino IDE 2.x has a flexible "pluggable monitor" system. Although it is most common for Arduino boards to communicate with the computer via a virtual serial port, that is not the only possible channel (AKA "port") a board might communicate with a computer (e.g., TCP/IP, BLE, CAN bus).
Arduino wants to allow the possibility for any communication channel and protocol to be used. So (leaving aside the unfortunate naming) the Arduino IDE Serial Monitor component does not place any limitations on the communication channel used. The channel-specific implementation is provided by a separate tool called a "pluggable monitor":
https://arduino.github.io/arduino-cli/latest/pluggable-monitor-specification/
Arduino provides a pluggable monitor tool for communication over a serial port:
but boards platform developers can provide their own pluggable monitor tool for the communication channels used by the boards of that platform. For example, the popular 3rd party Teensy boards use a special "Teensy" port protocol, so the "Teensy" boards platform provides a "teensy-monitor" pluggable monitor tool, which is used under the hood by the Arduino IDE Serial Monitor when you have selected a port of the "Teensy" protocol in Arduino IDE.
Each protocol may require its own configuration settings. Baud rate is relevant for some serial ports, but not at all relevant for other protocols. For example, the "Teensy" protocol has no need for a baud configuration. For this reason the pluggable monitor system allows each pluggable monitor tool to define its own configuration parameters and supported parameter values. The configuration menus shown in the Arduino IDE Serial Monitor are based on what the pluggable monitor for the selected port's protocol tells the IDE it needs. So if you select a port of the "Teensy" protocol, you'll find there is no baud rate menu because the teensy-monitor tool does not specify that as a configuration parameter.


