I've spent about 8 hours troubleshooting why the new TS5 isn't connecting properly to neither my Thinkpad T14s nor my M1 MacBook Pro. It's inconsistent in how it connects to the Mac, and doesn't connect as Thunderbolt at all on the Thinkpad. I ordered a new Thunderbolt 5 cable (Cable Matters), tried all the firmware and registry updates I've found on this sub and others online, and it's still not working.
The TS5 Plus shows sold out now on Amazon, so I can't even reorder it unless I'm willing to wait 3-4 weeks (which I'm not). I'm going to try the Anker Prime Thunderbolt 5 dock, even though I don't like the port configuration nearly as much, but I need a dock ASAP. Really disappointed, but it seems like a common issue with this particular model.