Variable products can use a global configurator, but only under one condition.
The restriction
A variable product can only be switched to Global (use a shared configurator) when it is set to Variations share the same configuration.
If it is not, the global option is disabled and the product shows:
Global configurators are not available on variable products unless "Variations share the same configuration" is selected.

Why
The two settings answer the same question in incompatible ways.
Variations share the same configuration means the whole product has one configurator, used by every variation. A global configurator can supply that one configurator, so the two work together.
With that setting off, each variation owns a separate configurator — that is the entire point of the option. A global configurator is a single shared configurator, so there is nothing sensible for it to attach to. Rather than guessing which variation should win, the plugin disables the combination.
How variations behave in global mode
- Variations inherit the parent's setting. The Configurator source control lives on the parent product only; you will not find it on individual variations.
- All variations show the same configurator — the global one.
- Prices and stock still work per variation as normal. Sharing a configurator does not merge anything else about the variations.
Choosing an approach
- Variations differ in price, SKU or stock, but are configured identically — use Variations share the same configuration plus a global configurator.
- Variations are configured differently from one another — keep the product local and give each variation its own configurator.
- Only part of the configuration is common — keep the product local, and share the common part with a global layer instead.
Switching an existing variable product
If a variable product already has per-variation configurators and you turn on Variations share the same configuration, the per-variation data is no longer used. Check the result before going further, and only then switch the source to global.