I have a 16/256 M1 mini with an LG 32 UL500 display and Apple Magic Keyboard and Magic Trackpad as my productivity machine in my office. It is excellent. The only reason I splurged on 16GB of ram is that on occasion I will fire up a Windows virtual machine. This thing is excellent. I use a WD Blue 1TB nvme ssd in an enclosure to supplement my storage.
I have a 16/1TB M1 13" MBP as my work laptop, and it is up to anything I ask of it as well.
I have base 8/256 M1 Airs in my teaching lab at work, and my wife has one we got for her preK classroom. I've watched her run her portrait photography workflow (one of her side-hustles) on that base model M1 Air, and it handles the work remarkably well. Sure it swaps like crazy but we live in a time where SSD storage is nearly as fast as ram was 20 years ago, so the impact on most tasks is minimal. Apple's base machines are incredibly capable when we do not try to micromanage them or stare at system monitoring applications nonstop. (I can only imagine the backlash if iOS or iPadOS had an Activity Monitor and iStat/Stats equivalents.)
For your stated uses, the base model M1 will handle the work just fine. That said, if you can get one with the education discount, at $499, the base model M2 would be worth the price for the extra couple rounds of MacOS updates those machines will get compared to M1. At this point, I don't believe we'll see M3 minis, and I wouldn't expect M4 minis before the November to January timeframe, possibly October if they launch the M4/M4 Pro simultaneously.
When it comes to the monitor, there are many opinions. If you've only been using Apple retina displays for years, then anything lower resolution may be a nonstarter. If you've been working with a mixture of displays, then 27" 4k and 32" 4k offer some nice compromises. For me, 32" @ full 3840x2160 provides all the screen real estate I need so that I do not require a second display, and mounting it on a vesa arm means I can swing it out of the way or share my screen easily when meeting with others in my office.