That's what I indicated earlier -- use 2 separated TB ports for each monitor.
I tried again to daisy chain both monitors last night:
M3 Macbook Air (clam shell mode) --> TB2/3 adapter --> TB display --> Used the additional TB 1/2 port on TB display (TB 2 cable) --> another TB 2/3 adapter --> Studio Display. (Yes, I do have few TB 2--> TB 3 adapters.)
With MacOS 15.1, the screen on TB Display would flicker and NO image on Studio Display (similar to MacOS 15.01). The Apple USB keyboard (connect to TB display) will not work with this daisy-chain set up.
I suspect the signal can not reach to Studio Display (requires much higher bandwidth that TB display might be the bottleneck).
Even I removed the connection between TB display and Studio Display, the TB display still flickered.
Until I detached all the connections from MacBook Air, rebooted -- The MacBook Air finally acted normal and I can connect to TB display along without any issue.
That's my "buggy" experience when I tried to "daisy chain" these 2 monitors.
The only way to make these 2 work simultaneously: 2 displays connected to 2 laptop's 2 TB ports - however, I have one TB dock to host either TB display or Studio Display.
Best