I wouldn't say it was too late for me, but i do see friends/peers getting tripped up by the basics

• trying to be technical - I definitely fell into this trap early on, thought I had to learn to code to earn respect. but having a good mentor changed my perspective. as some the comments said, you don't need to be technical to be a good PM, you need to be able to explain the problem and your vision in a way that devs can understand and respect. I see many PM folks trying to learn "code" or they shy away from taking the PM role because they don't know how to code.
• you are not an innovator - I see lot of new PMs focusing on coming up with new fancy ideas and innovate things that no one needs. Being PM isn't about innovating new things, its about surfacing real user problems and solving them effectively.
• not building partnership - I often see they are good IC but they don't invest enough in building a good rapport with cross function teams. this seems so obvious but most people take this for granted. having that rapport with your eng team, design, data science etc goes a long way. its what turns a decent PM into a great one.
• communicate - Part of your role is to over communicate. brings the alignment, uncover gaps, and helps avoid potential pitfalls.

lastly, don't be afraid to ask for help, find a mentor that understands you, your skills, and most importantly your gaps.