I can confirm that I just started experiencing this issue today, after a few weeks of it working fine. I didn't do any updates or anything, only restarted the computer.
Computer: M1 Max MBP 16"
Hub: OWC Thunderbolt 3 Dock
Connected Devices:
2 External Displays (are connected and work fine)
3x USB 3.0 External Hard Drives (do not connect through the hub, but do when connected directly via dongle)
Hub is powering MBP through the single Thunderbolt 3 connection, per the usual
Topic:
App & System Services
SubTopic:
Core OS
Tags: