Thunderbolt hubs are rather amazing now; in the past they'd either get super hot and have reliability issues, or had severe bandwidth limitations (especially if using larger displays).
The current crop has been great for my needs — a couple models have 10G Ethernet built in (CalDigit is the one I'm using now), and most now have more than one Thunderbolt port that allows a high speed storage device to be used as well (in addition to a 5K or 4K display or two!).
My TB5 dock from OWC on a M4 Pro MacBook can run dual 4k 240hz displays, 2.5gb ethernet, and several peripherals no problem. It also provides 100W of power. All over a single cable. So good these days
I may have the same one and I love it so much. Plug one USB C-looking cable into my laptop, and two 32” monitors and a host of accessories light up as it starts charging. It’s the greatest docking station ever.