No, the T5 will run slightly faster on a 10Gbps connection than on a 5Gbps connection, even on an Intel Mac, and even if it doesn’t fully saturate the 10Gbps USB connection.T5 is only rated at 5 Gbps, not 10. Doesn't matter what the system reports it as. The SSD inside is m. sata and not NVMe.
USB connection speed is a function of the drive‘s USB bridge, not the SSD itself.