That’s faster than USB-C 3.1 and 3.2, and USB4 support hasn’t arrived in monitors at this point. Thunderbolt may also mean you can avoid a hub or dock. If those features are not a big deal ...
Macs that have the regular M4 processor still support Thunderbolt 4. The standard is built on USB4 V2, DisplayPort 2.1, and PCI Express Gen 4 and is fully compatible with previous Thunderbolt ...