ADDITIONAL SYSTEM INFORMATION :
macOS 12.0.1 with either Java 17, 16, or 12 - all JDKs I've tried have the same issue.

A DESCRIPTION OF THE PROBLEM :
I change the cursor via Component.setCursor() to a "busy" cursor and it works fine. When the long-running activity is done, I change it back to a normal one. That works fine too. But in macOS 12 (Monterey), when I subsequently change it to "busy" again, the cursor does not change. The same code works fine in Windows 10 and Ubuntu 20.04.

I also asked around in the Netbeans forum and a couple guys tried the same code in macOS Catalina (10.15) and in Big Sur (11) w. JDK 15 and they had no problem.

STEPS TO FOLLOW TO REPRODUCE THE PROBLEM :
Run the source code below.
1) Push the "Busy" button. Cursor change to "busy".
2) Push the "Normal" button. Cursor changes back to a normal cursor.
3) Push the "Busy" button a second time - nothing happens.

EXPECTED VERSUS ACTUAL BEHAVIOR :
EXPECTED -
I expected the cursor to change to "Busy" again.
ACTUAL -
Cursor stays normal.

---------- BEGIN SOURCE ----------
import java.awt.BorderLayout;
import java.awt.Container;
import java.awt.Cursor;
import java.awt.event.ActionEvent;
import javax.swing.JButton;
import javax.swing.JFrame;
import javax.swing.JPanel;
import javax.swing.SwingUtilities;

public class BugTest {
public static void main(String[] args) {
SwingUtilities.invokeLater(new Runnable() {
@Override
public void run() {
final JFrame f = new JFrame();
f.setSize(400, 400);
f.setLocationRelativeTo(null);
Container c = f.getContentPane();
JPanel p = new JPanel(new BorderLayout());
c.add(p);
JButton b1 = new JButton("Busy");
b1.addActionListener((ActionEvent e) -> {
f.getGlassPane().setCursor(Cursor.getPredefinedCursor(Cursor.WAIT_CURSOR));
});
JButton b2 = new JButton("Normal");
b2.addActionListener((ActionEvent e) -> {
f.getGlassPane().setCursor(Cursor.getDefaultCursor());
});
p.add(b1, BorderLayout.NORTH);
p.add(b2, BorderLayout.SOUTH);
f.setVisible(true);
f.getGlassPane().setVisible(true);
}
});
}

}

---------- END SOURCE ----------

CUSTOMER SUBMITTED WORKAROUND :
There is no workaround.

FREQUENCY : always