The new method Link to heading
Use LinearMouse. Seriously, after spending a ton of hours, this is what worked for me on an M1 mac running MacOS Monterey.
Install the app, open it » Preferences » Pointer » Check Disable Pointer Acceleration
Please note that You will have to give the app accessibility permissions
The old method. Link to heading
It used to work, but not sure if it works on the new machines.
Open a terminal and run
defaults write -g com.apple.mouse.scaling -integer -1
Now, logout and log back in - this is very important. The changes do not take effect until you have done that.
Tested this on MacOS Big Sur