Serial monitor when port is being used by another application
Serial data can only go to one place at a time. Either your Python program can receive the data, or the Serial Monitor can receive the data. Similarly the serial port can only receive data from one place at a time.

So Windows prevents you doing something invalid by locking you out of the serial port when something else is using it.

This is normal, and entirely desired functionality.

Your simplest option is to just print what you receive in your Python program.