Start by disconnecting and reconnecting the Thunderbolt 3 cable that connects your MacBook to your monitor. Sometimes, simply re-establishing the connection can help resolve connectivity issues.
Next, try restarting both your MacBook and your monitor. Restarting can sometimes clear out any temporary software glitches that may be causing the problem.
If that doesn't work, check the System Information on your MacBook to see if it detects the USB hub on your monitor. You can do this by going to the Apple menu > About This Mac > System Report. Under the Hardware section, click on USB. If your monitor's USB hub is listed here, it means that your MacBook recognizes it, and the issue may be with the peripherals themselves or their connections.
If your monitor's USB hub isn't listed in the System Information, there may be an issue with the Thunderbolt connection or the monitor itself. In this case, try connecting your peripherals directly to your MacBook's USB ports to see if they work. If they do, the issue likely lies with the USB hub on your monitor.
If none of these steps resolve the issue, it's possible that the macOS update may have introduced a compatibility issue with your monitor's USB hub. In that case, you may need to reach out to Official Apple Support for further assistance or consider contacting the manufacturer of your monitor for any available updates or troubleshooting steps specific to your model.