Hearkening back to the Classic days, World of Warcraft: Dragonflight's Altar of Decay is not in a normal location. Used by Alchemists and Leatherworkers that wish to use the power of decay for their benefit, they've likely seen the Altar several times and may not have even realized it.
That said, if you want to get to it and use it, that's easy enough for players. Unfortunately, they cannot likely solo their way to the Altar of Decay in World of Warcraft: Dragonflight at all right now.
The Altar of Decay in World of Warcraft: Dragonflight is one of the several crafting benches that aren't located in easy-to-reach places. In the early days of World of Warcraft, players could only craft flasks if they made their way to dangerous, challenging portions of the world.
If you want to use the power of Decay, you must go to the source: Brackenhide Hollow. This means you have to complete the dungeon first, and it's not something players can likely solo just yet.
Fortunately, it doesn't matter which version of the dungeon you run - Normal, Heroic, or Mythic. Running it on Normal will be easier if you're trying to go in quickly, get in and out. You could also ask your friend group/guild if someone needs to run it and then join in to help.
You can join a group via Dungeon Finder or meet up with a group of players and enter via the coordinates 11.5 and 48 in The Azure Span. You even have a flight path that lands nearby.
At that point, you have to head in and complete this World of Warcraft: Dragonflight content. The Brackenhide Hollow dungeon can feel lengthy due to how it is organized, but it's not an especially challenging affair.
After you defeat the final boss, head up one of the ramps to use the Altar of Decay. Alchemists and
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