https://developer.android.com/about/versions/12
Looks like we'll get 4 beta releases this year starting in May.
Apparently yes, it's working, but buggy right now.
Trying Beta 4 on my Pixel 3 XL second phone, did a clean wipe, not bad at all, quite smooth.
Nothing has crashed. Used NFC , android auto etc. all good.
Indeed, about bloody time I say!