Im running a M1 Mac Mini with 2 LG UltraFine 32" displays. My first screen connected via HDMI works, the second connected by USB-C does not. Tested the display on another Mac and it works.
There is definitely something amiss in Beta 5 with external monitors. I get a picture from mine (a 27" 4K non-UltraFine LG), but it appears washed out over USB-C. Nothing except moving it to HDMI fixes it...which is no good because I'm trying to run dual displays. I wish I had a better answer here. I filed my feedback this morning and encourage you to do the same.
Agreed. Something a miss since PB4 with USB-C external output, I have a MacBook Air M1 and now it randomly when waking form sleep or idle, won't output a signal via USB-C. Need to disconnect the USB-C cable and re-attach for the Dell U2720Q to recognise a video signal