Macbook Pro 16 M1 very slow to wake monitor via HDMI

I upgraded from my 2019 Macbook Pro 13 to a Macbook Pro 16 M1 and now it's a struggle to wake the same monitor from the display sleeping.

With the 13", it worked beautifully, through HDMI or USB-C. Unfortunately I can't use USB-C with the 16" because it also wants to use it for power (which is ideal), but the 16" can't handle this display (Foxconn unit) with power on the same connection (I'm learning there a lot more hidden issues with the less popular 16" models than there are with the 13").

Now, I have to keep pressing keys on my keyboard for a good 30s before I can see my mac login prompt on my display. If I just press a key and wait the timeout for keeping the login prompt display awake expires - I presume because the negotiation or whatever is happening between the mac and the display is takes longer than the time limit for the wake-from-screen login prompt.

Please fix this. It's a fairly common user journey with a lot of votes (see related thread below).

My sense is the best workaround is to set the Lock Screen system settings to:

1. Screen saver/lock screen time out to be whatever is preferred - e.g. 10 mins.
2. Set the 'turn display off on power adapter when inactive' to be something really long or never. e.g. 3 hours.
3. Require password after screen saver beings set to immediately.

This should get the result that an inactive, plugged in Mac will rarely let the display go to sleep, but preserve a reasonable time to show a lock screen. You just have to to manually turn your display off at times if you want to save power.

This came up in this thread previously, but it seems replies are no longer allowed.