Have you tried disconnecting the OWC hub to see if that makes a difference? (and connect to the monitor using HDMI)
Does the dock have a TB3 connector as well? I've found faster external disk performance connected to my CalDigit TB3 hub than connected directly to the Mini (although on another thread an OWC user complained of poor USB speeds, so it may make it worse).
Is the TB2/TB3 adaptor an active device? Have you assessed it's impact with other devices?
Are you able to test with other Intel TB3 machines (e.g. MBP16, iMac) to see if it's related only to the M1?
Most people note that external disk performance (particularly USB 3) is significantly worse (30-40%) on the M1 Macs compared to Intel Macs. I think TB3 is relatively unaffected, but it sounds like you may be having a issue with the TB2 to TB3 conversion being efficiently processed on the M1.
I haven't tried without the dock, will do that on Monday
The dock has a pair of TB3 ports on the back (one is designated as host port, which the Mini is connected to). I've tried the RAID connected to the second port on the hub, and direct-attached to the Mini.
The adapter is Apple's own adapter. I suspect it's active, but can't prove it.
I've tested the RAID direct-attached to my 2013 MBP. Similar performance to the MacPro (it's pretty close).
I'll test without the dock on Monday, but I'm not expecting a different result. I can't run it that way day-to-day anyway, as the HDMI port won't do 5K.
The RAID is old, but reliable, and fast enough for now. Just wasn't sure if anyone else was seeing a slowdown with the Apple TB2 / TB3 adapter.