I will say, after my months of complaining on this 182-page thread, and on the cusp of receiving a new M1 MBP next week, the 16" in many ways redeemed the flaws of the 15" MBP redesign in 2016. It has everything you mentioned, and for me the most important: the keyboard was finally "fixed" to become a Magic Keyboard (+ physical ESC key).
All that said, there's still a lot of problems with it besides this heat/noise issue with external displays, including ridiculous amounts of coil whine (literally sounds like it has a hard drive from 2005 in it), very odd speaker popping when switching apps under high load, and a battery that degrades in health/lifespan rapidly.
I think you either got a lemon or Apple revised the design after the initial release (if you have a launch/early version.)