In the above test the Samsung T5 (256GB) was faster connected via the OWC (four port TB4) hub, than connected direct to my M1 MBA.
In the test of my Crucial X6 (4TB) below it is the other way round. The X6 is faster when connected direct to the M1 than via the hub.
View attachment 1829543
I have bouts of doing this testing and end up getting confused trying to see patterns and consistency. For me all my drives are plenty fast enough direct or via the OWC and differences are not noticeable without measurement.
I guess if I was seeing down to 180MB/s I would be concerned.
Please rerun the test without the "23.7" LG Ultrafine" attached. the use of TB3 displays appears to affect the bus performance.