AirTags are decidedly not good at tracking critters.
Cats won’t and don’t get tracked when they’re out of range of an Apple device needed to relay the AirTag position, and that with a range of 10 to 30 meters maybe as much as 100 meters maybe and that under ideal conditions. Maybe.
Cats underneath or inside structures or vehicles will have reduced range.
And with no location available, if the cat is in a location with no Apple devices within Bluetooth range.
Cats are also good at getting out of collars too, and a properly designed cat collar allows a collar-trapped cat to escape the collar. That means an AirTag may be pinging away from within some shed, with the cat elsewhere.
Available location data can be viewed via the Find My app.
Locate an AirTag or other item in Find My on iPhone - Apple Support