Update monitoring-settings.asciidoc (#78896) (#79169)

* Update monitoring-settings.asciidoc

* Update wording

Co-authored-by: Adam Locke <adam.locke@elastic.co>

Co-authored-by: Sandeep Kanabar <sandeepkanabar@gmail.com>

docs/reference/settings/monitoring-settings.asciidoc

@@ -239,9 +239,8 @@ Array-based headers are sent `n` times where `n` is the size of the array.
 monitoring agent will override anything defined here.
 
 `index.name.time_format`::
-A mechanism for changing the default date suffix for the, by default, daily
-monitoring indices. The default value is `yyyy.MM.dd`, which is why the indices
-are created daily.
+A mechanism for changing the default date suffix for daily monitoring indices.
+The default format is `yyyy.MM.dd`. For example, `.monitoring-es-7-2021.08.26`.
 
 `use_ingest`::
 Whether to supply a placeholder pipeline to the monitoring cluster and a