MacOS Big Sur 11.2.3 and External Monitor Issues

Hi Apple, I have a 16 inch MBPro and a 32 inch 4K LG monitor. I used to connect my Mac to the monitor using a single USB-C cable, running 4K resolution at 60Hz.

Issue 1

However, after updating my computer in December, when a MacOS update to Big Sur became available, my computer only detects my monitor as 1080P via USB-C. Searching the Internet, this seems to be a major issue.

Issue 2

I found that I could connect my computer to my monitor using HDMI instead and this allows me to run full 4K resolution. But now I can only select 30Hz as refresh rate. Once again, searching online showed that this is a major issue too. I have tried with multiple adapters and cables, capable of running 60Hz.

I know several people with the exact same setup as me and they are all experiencing these issues . These issues have been around for almost five months now! No updates, so far, have resolved either of these issues.

I'm waiting very patiently for a fix!

Is Apple aware of these issues? Is there a fix on the way?