External USB drives are can transfer up to speeds of 500MB/s on a good day. They are limited by the SATA interface that most external drives are connected to. The USB port is not the bottleneck.
Even so, that's not too bad so long as you're not using it as a boot drive for MacOS. They're cheap and do the job adequately.
If what you're looking for is speed that is as fast, or faster than your Mac's internal SSD, then what you're looking for is a Thunderbolt drive. These drives will give your extremely fast read/write speeds in the area of around 2.5GB/s.
They're not cheap, but when you want blazing fast speed, this is what you get.
https://appleinsider.com/articles/19/12/04/the-best-thunderbolt-3-ssd-and-hard-drives-for-your-macbook-pro-macbook-air-mac-mini-or-imac