That CalDigit guy doesn't know his own product or Thunderbolt.
First of all, 5120x1440 60Hz is less pixels than 4K 60Hz so it requires less bandwidth than 4K 60Hz so DisplayPort 1.2 is sufficient. The Dock supports DisplayPort 1.2, so it is sufficient for 5120x1440 60Hz 10bpc.
HDR is a feature of DisplayPort 1.4 but the bandwidth required is the same (at least 10bpc). I think the CalDigit uses the Alpine Ridge Thunderbolt controller, so its output will be limited to DisplayPort 1.2 so maybe HDR and DSC won't be supported from that Thunderbolt dock. Newer Thunderbolt docks use the Titan Ridge Thunderbolt controller and can support DisplayPort 1.4 features (HBR3, HDR, DSC).
Standard USB-C cables should be fine, as long as they support 10 Gbps USB speeds since DisplayPort 1.2 only requires 5.4 Gbps per lane. Actually - if the display uses the USB-C connection for USB 3.0 ports, then this is not sufficient because the cable will only have two lanes for DisplayPort instead of the require four lanes. Some displays have an option to switch to USB 2.0 over USB-C so that the USB-C cable can have four lanes of DisplayPort. Two lanes of DisplayPort might be sufficient if DSC is supported (requires DisplayPort 1.4) but you probably don't want to rely on that.
For USB-C to DisplayPort cables, I don't think it matters unless you want to try to get 120Hz - then you should make sure they support DisplayPort 1.4 (8.1 Gbps per lane). The cable doesn't include USB so there will be 4 lanes of DisplayPort.