I have now installed big sur on this E7420 EFi but Montrey does not work. My laptop is actually E7440 model but for big sur work E7420 Efi. its named by techobilabs_Dell E7240 EFI.
when iam trying install montery 12.3.1 by this efi it show this message "A required firmware update could not be installed" as shown on post #1.
This is the link of efi which is work for me in the installing of big 11.1
http://www.mediafire.com/file/qzx8ldugwol8o72/file