UPDATE

This is the fix I found:

Quit Google Drive — or any cloud storage (Dropbox etc) you may have running at boot.

Close — as in full close/quit — Google Chrome.

I’m not sure if it’s a Google issue or some system level conflict with Mac OS, but hopefully it gets fixed soon. But… it’s been about a year or more now I’ve been dealing with this.

I'm finding the same issue is true for the Pixel 8 Pro as well.

For months I was unable to get my MacBook Pro (M1, 2021) to mount my Pixel 7 Pro using the Android Transfer Tool. I could get numerous Barnes & Noble NOOK’s (which run Android) to connect with no issue.

The solution: Quit Google Drive. Simple as that. Now, I might give it several seconds after you click the menu bar icon, click the settings gear, and click quit. Otherwise you might still encounter failed mounting.

Source: https://support.google.com/pixelphone/thread/196346342/pixel-7-file-transfer-not-working-mac?hl=en