Any updates to the firmware or drivers for bluetooth? My 2017 Mac has had many issues with bluetooth consistency. Keep on hoping they will announce performance improvements.
I've noticed this in the last month/two - on my 2018 MBP as well - my Logitech MX keys/mouse will both randomly disconnect for 5 seconds and then pair back, this wasn't happening before.
I don't use bluetooth input devides so can't comment on those, but I too noticed regressions in the last month or so with regards to AirPods.
They changed the firmware so that it can "seamlessly" move between devices but 1) it's not seamless at all - I actually disabled the new behavior and 2) I'm pretty sure something else changed regarding Bluetooth because switching between devices manually is slower and less reliable than it used to be before, and I bet this change is also responsible for the issue with input devices that you're seeing.
I thought I was losing my mind - I've been experiencing the exact same thing with the MX keys/mouse over the past few months, and no amount of fiddling or reinstalling has been able to fix it. My scroll wheel regularly gets "clogged up" too, becoming unresponsive for 5-10 seconds, then dumping out all of my buffered scroll data at once in a furious explosion of scrolling. It's quite frustrating, and I've been looking forward to a fresh install of Big Sur to hopefully flush out whatever gremlins have been gunking things up.
Do you have any USB C accessories? There are a lot of issues with interference between these two. When I unplug my USB C disk I can use bluetooth across my whole flat, with USB C plugged in I can barely leave my table without running into issues.
Still wack. If my iPhone or iPad is between my mouse+keyboard and my 2019 mbp, Bluetooth shot to hell. Moving devices even a foot away helps dramatically though I still have to turn my mouse on and off every time I return from sleep. Happens with Logitech Mx, Matias keyboard, keychron mechanical keyboard. Maddening.