Succeeded. This was complicated enough, I will write it up for others to be able to succeed. The focus of this writeup firstly is to fill in where manufacturers' documentation wasn't sufficient to succeed. If there is demand, this writeup could be adjusted further.
CableMatters cable part 201392-BLK-6 was used between a MacBook Air M4 and a Samsung QN900B 8K TV. Several adjustments were necessary.
From CableMatters website, a download of a tool for firmware flashing was needed. Followed instructions to choose firmware for Mac. Succeeded running the firmware flashing tool in Parallels in Windows 11 on that MacBook. Was important to install .NET 6 SDK in Windows. Did not work with only .NET 8. Did not work with only .NET 6 runtime. Had to be .NET 6 SDK. Probably also succeeded at firmware flashing on an actual Windows Intel laptop, when using .NET 6 SDK. Also important to run as Administrator. Also important if using Parallels, to let Parallels access device VMM7100. Then when done, disconnecting the cable on both ends to restart it for the new firmware in that cable to become active.
Notably, but safe to ignore, in case you pay close attention, that tool apparently installed a firmware from a file named Spyder_fw_USBC_CM_MBP4k120, and then says it installed version 7.02.123. You probably can ignore that. You possibly know you succeeded if Settings Displays starts showing the external monitor with optionally 144 Hertz instead of 60 Hertz, either way max 4K, but I do not swear to that.
That cable then still worked on a Linux Intel and/or a Windows Intel with 8K, but I cannot say it stayed that way.
Grabbed myself an EDID from this cable while it was plugged into a Linux box, and this cable and monitor had 7680x4320 in the list, but 7680x4320 still didn't show as an option in the Mac's Settings Displays.
Read up about resolutions, EDID, DSC, HDMI, Thunderbolt speeds. Notably, the MacBook Air M4 has Thunderbolt 4, hence 40 Gbps only. This is not yet like the newest MacBook Pro having Thunderbolt 5 at twice that speed. That could mean a limit to 8K 30Hz, not 60Hz. Apparently, as implemented in macOS at this time (15.4), Settings Displays wasn't willing to offer that.
Used the open source command line tool displayplacer. Thank you, Jake Hilborn. Wanted something simple that doesn't really install itself, no closed source code, etc.. Used its list command. Made sure I had HDR off. Then used it to set for my carefully picked correct (!) id for the external monitor something like
displayplacer "id:1234567890 res:7680x4320 hz:30 color_depth:8"
It worked! 8K on the TV.
To be accurate in reporting I must mention, I actually used a mode number from the list. But I do not want to make that example command line easy to copy verbatim, because it might have bad effects on someone else's machine.
Here is why for now I will not use it this way for now: Every few minutes it flickered to black for a couple of seconds.
The QN900B is from 2022. It seems to have a hard time with at least some kind of 8K loads. Supposedly has to do with chroma translations, YCbCr 4:4:4, 4:2:2, 4:2:0. I do not remember from a few months ago whether it does better at 25 Hz or 24 Hz, instead of 30 Hz. Every few minutes it flickered to black for a couple of seconds. Presumably the QN900C and QN900D from one year later each have better processors and can better handle those kind of signals. This may work better for you with a newer model of that series TV. I also only guess it is the TV's problem, while it could be the cable's processing problem — I don't have evidence that I can clearly tie to either suspect. Maybe I remember the TV apparently was hitting limits in the past in the warm season under that kind of load, not certain.
The Mac's Activity Monitor was showing unremarkable GPU load, hence I am not suspecting the Mac, for now at least.
Now you know it is possible. And you know it is pushing limits, apparently 30 Hz only, or better even less. It may lose signal for a couple of seconds every few minutes, and hence you may not want to use it as a regular 8K work environment.
If anyone gets better results, please mention your setup in a reply in this discussion. Thank you.