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USB-C hubs do exist, my monitor has one built in. Works fine.

Is it actually Thunderbolt not plain USB-C?

Many displays (like some consumer-oriented LG models) don't use Thunderbolt. Two USB-C lanes are used for DisplayPort Alt-Mode (usually with HBR3 for e.g. 4k@60Hz) and two lanes for some USB3 variant.

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