After Monterey update, USB-C connection doesn't support 4k at 60 herz anymore

After I updated my 2018 15" Macbook Pro to Monterey, 4k resolution to my monitor @60hz is not supported anymore. I can only use it at 2k at 59,99hz.

I am using the monitor hub to connect ethernet, for extra USB ports and for powering my Mac connected with one USB-C cable. This setup still works, but the only 4k resolution I get on MacOS is a frustrating 30hz, with no possibility to change (even with holding Option etc.)

Obviously it's a pure software issue, because nothing has changed in my hardware setup, but only the OS itself. Still, I replaced the cable, checked the solution suggestion on Reddit, installed SwitchResX to no avail.

My monitor is 32" Lenovo ThinkVision (P32P-20) - and yeah, it still supports 4k @60hz with my Dell laptop, on Windows.

No idea why this is happening but it's outrageous! On help forums, it seems like there's no helpful reply from Apple. Of course I'd like my setup to work the way it did before, meaning, a one cable solution.

Any suggestions or any news that Apple is dealing with the subject, which looks like common issue among many users?

Thanks!