Yes, it can handle two external 4K displays.
Thank you Nermal and pshufd for the prompt response!
Here what's I'm trying to do:
Connecting two 4k monitors (one f them MSI MPG OLED) and NVMe M.2 SSD using enclosure to my iMac 2020 Late 2024 5700XT, any tips and tricks?
I just bought MSI MPG 123URX 32'' monitor, and I want to game on it using my iMac 5K 2020, but I have another LG 32' connected to Thunderbolt 3 port, also I'm storing my games on 2TB Crucial P3 Plus 2TB PCIe Gen4 3D NAND external SSD NVME using enclosure, Am I going to run into problems? Do I need a TB3 hub to run all these three devices?