After upgrading to macOS Monterey my Vagrant environment will not launch due to VirtualBox

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I am relatively new to coding having completed a bootcamp. After upgrading my MacBook Air to macOS Monterey my Vagrant environment gives me the following error related to VirtualBox after typing vagrant up.

There was an error while executing `VBoxManage`, a CLI used by Vagrant for controlling VirtualBox. 
The command and stderr is shown below.

Command: ["startvm", "21964235-7d9e-409f-b4f5-873337ff15cb", "--type", "headless"]

Stderr: VBoxManage: error:   
The virtual machine 'coding-environment_default_1569969188652_73979' has terminated unexpectedly during startup because of signal 10  
VBoxManage: error:   
Details: code NS_ERROR_FAILURE (0x80004005), component MachineWrap, interface IMachine

Is this because VirtualBox is not yet compatible with macOS Monterey? I'm running the latest version of VirtualBox. If not, is there a workaround?

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