If it stayed cool, yes! From amongst the 11 reviews currently on Amazon of the CalDigit TS5 Plus:It would be great to have 1 nvme slot inside for time capsule back up. 1 less clutter outside.
Symex: "It does generate a lot of heat which is to be expected with all that this dock is providing, so keep it in an area out of direct sunlight or near a hot router, etc."
Luke Orlando: "It does run pretty hot but this makes sense and is moreover expected given all the I/O running through this thing."
Jeremy: "Definitely a bit bigger than my TS3 and runs a bit hotter but nothing concerning."
I have to wonder what a Thunderbolt 5 served NVME SSD would add to that.
Speaking of which, on the CalDigit TS5 Plus and other docks, does iStat Menus or do similar products give you temp. reading on internal components the way they do your Mac?