Hyperinflation is caused when an increase in the money supply without a corresponding increase in economic growth causes too many dollars to chase too few goods. The inflation happens not immediately when the Fed prints money, but when that money can't be absorbed by the economy.
The money supply has been increasing, but it's primarily been going to people at the top of the wealth pyramid, billionaires, corporations, and so on. So the new money the Fed printed went mostly into assets. That's why the stock market, the crypto market and so on have been skyrocketing. There's no logical reason for the stock market to be at the level it's at, it's only there because of the increase in the money supply.
The only reason inflation hasn't affected the prices at the supermarket, and the average person's utility bills yet is because the new money printed out of thin air didn't arrive to the average person yet. So at the moment the demand for goods is not increased yet, it's actually even decreased, as people are much more cautious with spending their money. But it's a matter of time until these money, printed out of thin air, enter into circulation, and go to the population.
No one can tell the exact date when this will happen, whether it will be in a few months, a year, or two. But it will happen when the increased money supply arrive to the average people and they start spending these money. When they find out that there aren't enough goods for all the people who want to buy them, this is when shit hits the fan... When the demand for goods is increased, and people find out that the supply is decreased, creating a shortage. Then the prices skyrocket, which creates mass hysteria, and panic buying which accelerates the whole thing even more.