Can Someone Summarize the Current Status of NIST’s Post-Quantum Cryptography Efforts

I’m new to cryptography, and some of my professors have mentioned that NIST (National Institute of Standards and Technology) has selected a few algorithms to protect against future quantum computers. I've tried to look into it, but there’s a lot of information and many conferences and talks on post-quantum cryptography (PQC). Unfortunately, I don't have enough time to watch all the videos or keep up with every update.

Can someone provide a quick summary of where we are with these efforts? Have the algorithms already been finalized, or is there still another selection process going on? Are these algorithms ready for use now, or are there still more steps before they can replace older systems like RSA or ECC? And how do they compare to those traditional systems in terms of security and performance?

Thanks in advance for the help!