Thank you for the detailed response. You raise many relevant points which could possibly explain my observations.
I ran a small test where I swapped the 2 drives but retained the original cabling and ports. To my surprise, both drives showed up as Solid State. When I swapped them back they still both indicated Solid State. I suspect, then, that the issue is somehow related to Monterey itself rather than the SSD or Mac mini (2018) hardware.
One another detail, which seems not to be a factor based on my experiment, is that one drive is connected directly to a Mac mini USB-C port while the other is connected via a USB 3.0 USB hub. I realize that the latter is not a recommended configuration, however, it still works well. In passing, I should perhaps also mention that, according to System Report, the SSD with the direct connection shows has a maximum speed of 10 Gbps while the one connected to the USB 3.0 hub indicates 5 Gbps. This is to be expected since the 10 Gbps theoretical maximum specification applies only USB 3.1 (Gen 2).
All-in-all, the Samsung T5 series seems to work very well in my configuration (for 3 years now). No serious issues with Mojave, Catalina, Big Sur, or Monterey.
- Pie Lover