14" MBP 2021 (M1 Pro) and CalDigit USB-C HDMI Dock -- interop issue

I'm an IT professional and have discovered what appears to be an interoperability problem that affects the specific combination of my wife's new 14" MacBook Pro (M1 Pro) and the CalDigit USB-C HDMI Dock. I've also reported this to CalDigit, but since I've been able to determine that this issue only affects this specific combination of equipment, with each product behaving properly when paired with another product, I'm also reporting this here because I'm not sure which company will need to fix this.

I have a pair of Dell U2415 displays (1920x1200 native resolution) connected to the dock's HDMI outputs.  When the MBP is connected to this dock, and only then, the display connected to the dock HDMI output closest to the power adapter input "flaps" every few seconds, i.e. the display goes blank and is no longer detected by macOS.

A variety of test equipment available to me has allowed me to check other scenarios, and here are my findings:

• This issue remains with the HDMI output nearest to the power input.  I swapped the HDMI cables between those two outputs, and at that point the problem on the original display disappeared, and the display that was previously problem-free started exhibiting this behavior.  So I've ruled out the display and HDMI cable as possible causes (although not necessarily a problem between the CalDigit dock and the U2415 display model, I suppose).
• This problem does NOT occur when this dock is used with other laptops. I tested the dock with a Lenovo ThinkPad X1 Extreme Gen 2, a Lenovo ThinkPad T490s, and a Dell XPS 13 9350.  With all of those systems, both displays behaved correctly.
• This problem does NOT occur when the 14" MBP is connected to another Thunderbolt dock. I connected it to a Lenovo ThinkPad Thunderbolt 3 Dock Gen 2, where I had a Dell U2717D and a Lenovo ThinkVision M14 display connected, and both displays behaved correctly.

The MBP is running macOS 12.0.1, the latest as of this writing, and there are no firmware updates available for the dock as of this writing.

Hopefully this helps identify an underlying cause and develop a fix. Unfortunately at the moment the only reason I bought this dock was for my wife to run dual external displays from this new MBP.  She already had a USB-C dock that could run her pair of displays just fine from her other systems (thanks to Windows systems supporting DisplayPort MST....), so if this dock doesn't work properly for the one new system we needed it for, then we're a bit stuck.