\title is no sectioning command, so titlesec does nothing but to throw an error. (Admittedly the error and help messages are not particularly clear.) If you want to change the appearance of the title you should write the title page yourself or possibly patch \maketitle like this:
\documentclass[12pt]{report}
\usepackage{xpatch}
\makeatletter
\xpatchcmd{\maketitle}{@title}{\bfseries@title}{}{}
\makeatother
\usepackage{titlesec}
\titleformat{\section}{\Large\bfseries}
\titleformat{\subsection}{\large\bfseries}
\title{My Great Masterpiece}
\author{Me Myself}
\begin{document}
\maketitle
\chapter{Foo}
\section{Bar}
\subsection{Baz}
\end{document}

By default the title is already \LARGE so there is no need to add it extra. Note also that your current use of \titleformat* corresponds to the standard definitions, so those lines aren't really doing anything useful.
duplicate. See this answer: https://tex.stackexchange.com/questions/134031/how-to-adjust-the-size-and-placement-of-chapter-heading-in-report-class – SebGlav Feb 24 '21 at 11:27