Peak Amazo means Timazo, which yeah means he has control over space/time.
Monarch was powerful, but in terms of the power he could actually bring to bear 1v1 he was on Superman's Prime's level, which puts him still at or below skyfather. His 'ultimate attack' destroyed a universe, fair, but I don't think he was actively operating at those levels (similar to Firestorm now being able to destroy a universe).
So Monarch/Timazo goes to Timazo. Cyborg Superman + Rings ALONE was allowing him to go toe to toe with 3 Superman-level foes (Powergirl, Supergirl and Superman) though he ultimately lost that one. Add in the Alpha Lanterns and Superman, Silver Surfer and Thor go down hard.
Eradicator and Ultron stand by and upgrade their software or something.