Exactly my M1 MBA 4K external display experience: "works perfectly."
YMMV, of course.
USB 3 video is a troublesome way to connect a monitor, with a lot of vendor incompatible techniques for signaling sleep/wake, charging, and obscure limitations on resolution/refresh. For example, for years Dell stated that their USB C monitors were not compatible with Apple devices.
Thunderbolt 3 seems far more reliable, in my experience.