Can the new M1 Pro chip support more than 2 external monitors?

That built-in display in the M1 Pro has a much higher resolution than the 2K displays you have now.

You don't get to repurpose its display generator for a third external display.

You paid dearly for the built-in display. Consider leaving the built-in display open, and using it as one of your "three".

BobTheFisherman is incorrect. According to the primary advertisement for the M1 Pro, it supports up to 2 external monitors.

https://www.apple.com/macbook-pro-14-and-16/

The M1 Max supports up to 6 displays.

Simultaneously supports full native resolution on the built-in display at 1 billion 

colors and:

Up to two external displays with up to 6K resolution at 60Hz at over a billion colors (M1 Pro) or 

Up to three external displays with up to 6K resolution and one external display with up to 4K resolution at 60Hz at over a billion colors (M1 Max)

The M1 Pro supports two external monitors. The M1 Max supports four

Check at: https://www.apple.com/macbook-pro-14-and-16/specs/

No. And it only supports 1 external display.

My error, I missed the fact that this is regarding the new MBP. Yesterday my answer was correct.

Sorry about that. The new MBP that supports 2 external displays is not available until 10/26.