I can’t speak from the British Commonwealth perspective, but from a Swedish perspective my opinion is this regarding having a monarch:

Yeah, it might not reflect our modern values well, but since the (Swedish) monarch is mostly ceremonial and completely unpolitical, there’s actually quite little to hate about it. They’re just the mascot of the country. There’s far more pressing issues in our country than having that confused old guy as head of state.

At least he doesn’t possess nuclear launch codes.