OK. Thank you for the clarification. My info on the Apple Studio is that it used a dual DisplayPort connection, so would not work. This does mean that when I use the LG Ultrafine 5K with the Apple Studio display it should work on a TB 5 single port, but it does not using the OWC Thunderbolt 5 hub. Each display works fine when connected to the Mini directly to two separate ports, but not via the port using exactly the same cables. So I do not think it is the cables or noise. It is the Hub.Apple Silicon Mac mini with two Apple Studio Displays? They should not blank occasionally. That just means poor connection quality or noise.
They work because they each use a single DisplayPort HBR2 x4 connection with DSC.
You can force an LG UltraFine 5K to use a single HBR2 x4 connection but then it would be limited to 5K39 (with a custom timing added….
BTW where did you get the info on the Apple Studio display? When I searched the results said it required dual DisplayPort connections.
Thanks for your help.