This question must have been asked but I cannot find these answer.
The documentation and many examples seem to suggest that any character input to the Serial device (e.g. Monitor) will be put in the buffer and be immediately reported via Serial.available(). The simple program below however seems to operate differently. Serial.available() only return an int>0 after a line terminator has been entered.
As the others write, almost anything will send characters as soon as they are typed.
The Wokwi simulator can do both. It can act as a Arduino Serial Monitor and wait for the 'Enter' key, or it can simulate a normal Serial Terminal app and send characters as soon as they are typed.
Data that you want to send from serial monitor is only send when you press <enter> or click <send>; this has nothing to do with the line terminator.
You can specify the line terminator in the right bottom of the serial monitor; the selected option is added to the text that you type in the input box.