It literally says in the announcement:
Computers and accessories based on Intel's Thunderbolt 5 controller, code-named Barlow Ridge, are expected to be available starting in 2024.
Apple has been very quick to adopt the latest Thunderbolt standard in the past. I don't expect to see this on M3's, but I wouldn't be surprised at all to see it on M3 Pro/Max based systems in 2024.
Probably not.
" ... The technical aspects of Barlow Ridge such as package size and TDP will be made public in the coming months. Intel expects Thunderbolt 5-equipped computers and accessories to launch in 2024. Technical collateral and other developer resources will become available in Q4 2023..
..."
https://www.anandtech.com/show/20050/intel-unveils-barlow-ridge-thunderbolt-5-controllers
'starting in 2024' likely just means the year where things will start. Not suggesting that it will start when 2024 starts.
Two factors. First, Decent chance that long term early planning had the M3's coming in 2023 ; not 2024. So unlikely to have included a 2024 'feature' in a 2023 product. Furthermore , that "coming in 2024" is probably Q4 2024 time frame. Is there really going to be a M4 in 2024. Track record so far says not. M1 -> M2 gap more than a year. M2 -> M3 again more than a year.
Second, Intel isn't even delivering the finished technical docs until Q4 2023. The tech specs for the discrete controllers are not out. Even if folks get final stuff so can wrap up the designs, then have to get products tested, verified, manufacturing worked out , etc. The bulk of the beginning of year is just getting stuff done. If there are no host TBv5 systems how likely are there going to be peripherals ready to go? Not likely.
Intel's updates this Q4 are a Raptor Refresh.... which isn't going to be TBv5 'native'. Nor is the laptop (Meteor Lake) which would deliver bulk of host TB ports to drive adoption.
USB4v2 is mainly missing in action right now also even without the mandatory Thunderbolt requirements stacked on top. Thunderbolt v5 can only get adopted as fast as USB4v2 is because it is simply layered on top. If USB4v2 is super slow then TBv5 will be super slow also.
INtel is probably going to make their "2024" deadline with a small handfull of systems that come out in Q4 , maybe late Q3 , that sake the claim , but volume won't come until 2025.
This TBv5 thing is mainly a 'paper launch'. Just hoping folks don't forget about it. This is Intel flogging stuff that isn't "fully baked" in the press.