The first digit sets the class, defined in RFC 9110: 1xx informational, 2xx successful, 3xx redirection, 4xx client error and 5xx server error. A client that doesn’t know a specific code treats it like the x00 code of its class.
For monitoring, the code is the first sign of health. 5xx means the server or something in front of it failed: 500 an application error, 502 and 504 a problem between a proxy and the origin server, 503 overload or maintenance. 4xx usually means the request was wrong, but a 403 or 429 for a monitoring check often means a firewall or rate limit is blocking it, not that the site is down.
A 200 doesn’t prove a page works: an error page served with 200 is still an error. Check the content too, with keyword monitoring.