A number of users are reporting that USB devices including hubs are no longer working after upgrading to macOS Monterey. It's not possible to estimate yet whether this is a widespread issue, but there ...

A growing number of reports from macOS Monterey users suggest Apple’s newest operating system has issues with USB-C hubs and some other USB peripherals — some of which do not work at all. Some users ...

Like all things USB-C hubs aren't as simple as with earlier USB versions. With options for connectivity, video, and power delivery, there are more compatibility issues, that can be hard to debug.