I was successfully running two screens via a Dell D6000 DisplayLink hub with my M1 Mini (and could have run 3 screen if using the HDMI as well).
I later got a TB3 hub and found I got more reliable behaviour running directly from the HDMI and the hub's Display Port output. DisplayLink does occasionally have problems with screens not waking up, or changing window position etc, and I found I have fewer problems without it.