Not an expert, but reading up on the rules, this is what I get:
Earnings from age 59 and younger are adjusted upward by the Average wage index at age 60. Earnings after 60 get no upward adjustment. The top 35 years of adjusted earnings are averaged to get the average indexed monthly earnings AIME. The AIME is then put through the PIA formula the key to which is the bend points and those are adjusted using the AWI at age 60. So effectively everything through age 60 gets an AWI adjustment. That's the last tax year that's available to the SSA by the time they need to be ready to cut a benefit check at age 62.
There is no adjustment for inflation for age 61. For age 62 and up, the inflation adjustment is via the CPI-W based COLAs the following year. So your first COLA adjustment is made in January of the year you turn 63 (the January check is for December of the year you turned 62)
They can't adjust what they can't see. Your earnings in 2023 earnings will not be available to them until your employer sends in the W-2. For self-employed, they can't see it until you file your tax return. I understand they do the calculation in August or September, but will adjust back so they don't cheat you out of anything.
Note that it won't be too exciting. It is averaged in with the other 34 years and then the formula has bend points that mean the adjustment will be only 15% for if your AIME exceeds $7078. So let's say you replaced a 0 with this year's max of $160,200, then the extra monthly benefit you would get would be:
$160,200/35/12 * 0.15 = $57.20/mo. If you had anything other than a zero you were replacing or didn't reach the maximum $160,200, your increase would be less.
Don't spend it all in one place.