Don't have an answer, but I'm sure with time and more people exposure to the hardware, you will have one. In the meantime, is there such a thing as a TB3 to TB4 adapter? I know you say it is backward compatible, but the adapter would make it a "permanent" downgrade. Not desirable if the first device is TB4. Your second bullet point may accomplish this, but then again, is an adapter different circuitry?

On a Mac since 1984.
Currently: 24" M1 iMac, M2 Pro Mac mini with 27" BenQ monitor, M2 Macbook Air, MacOS 14.x; iPhones, iPods (yes, still) and iPads.