Theoretically If you have a monolith that can be scaled horizontally there isn't any difference between having 10 replicas of your monolith and having 5 replicas of two microservices with the same codebase. UNLESS you are trying to underscale part of your functionality. You can't underscale part of your app with a monolith. Your pipe has to be big enough for all of it. Generally speaking though if you are talking about 10 replicas of something there's very little money to be saved anywhere.
Even then though the cost savings only start at large scales. You need to have a minimum of 3 replicas for resiliency. If those 3 replicas are too big for your scale then you are just wasting money.
The place where I see any real world benefit for most companies is just engineering coordination. With a single repo for a monolith I can make 1 team own that repo and tell them it's their responsibility to keep it clean. In a shared monolith however 0 people own it because everyone owns it and the repo becomes a disaster faster than you can say "we need enterprise caching".