Maybe as thunderbolt has full combability with displayport.
But you would not need thunderbolt so you would be better off with just a
USB-C to mini DisplayPort adapter. Much cheaper cables
I am not sure if you can drive 2 displayport monitors easily via the USB C ports. you will for sure be able to do one.
Connect a display to Mac mini - Apple Support
For Mac mini with Apple M1 chip, you can connect one external display up
to 6K using a Thunderbolt 3 (USB-C) port, and one external display up
to 4K using the HDMI 2.0 port.
You would need to connect one screen to USB-C port, and one to HDMI.
Not sure the HDMI out can output displayport