Hmm. Their update instructions (Updated Jan 19, 2023) have screenshots and instructions for the firmware updater with placeholder text. Doesn't inspire confidence about their QA processes.
From the looks of it, nothing has changed with this firmware since June 2022 when it was first released.
Notice that the tutorial screenshot was taken December 14th, same as the timestamp for the firmware updater pkg and when it was notarized by Apple.
However, the firmware file itself is dated Jun 27, 2022.
Why would it take six months to get Apple to sign the software?
It doesn't.
The Mac firmware updater for the TS4 applies the same 39.1 firmware that the Windows updater did several months ago. Apparently Caldigit was having problems getting the updater to work on macOS in the mean time.
Since then, if their developer account's certificate expired, they'd have had to renew it before shipping anything. This in itself is not a process that takes more than a couple of minutes, but also the installer package gets signed at the time that Caldigit builds it.