So, when's the right time to ditch the monolith for microservices?

hey everyone, im seeing a lot of buzz around microservices lately, and its got me thinking about the tipping point. we're currently on a monolith that's getting pretty large, and while it's manageable now, im wondering when the pain of staying monolithic outweighs the complexity of moving to microservices. are there specific metrics or qualitative signs that signal its time to consider the split? what challenges did you face when making that transition, and what would you do differently?