Will the dock give the 2nd SSD drive (which is USB-C in design and limited to 10-Gbps max. throughput) 10-Gbps of its own, from the Thunderbolt system's share of bandwidth, while allowing the 'plain old' USB-C connecting external SSD its separate 10-Gbps data throughput?
OK - hopefully someone will correct me if I'm wrong (this is all as clear as mud so there's a bit of guesswork here - plus what I can work out from plugging things into my Element hub and looking at the system report) but, as I understand it on a "modern" TB4 hub with multiple downstream TB ports, the answer is "no" - although there may be exceptions.
If you connect a USB-C/USB 3.x to one of the downstream TB ports, that port will run in USB 3.x mode and the device will be connected via the same internal USB 3.x hub as any other USB device in, or connected to the hub.
(On the Element hub, the front USB-A ports are served by a 4-port hub cascaded off the USB 3 hub providing USB to the Thunderbolt ports - so you do probably avoid a bit of latency by going via the TB port and avoiding a layer of hubs - but any USB hub with more than 4 ports will use cascaded hubs like that to get the extra ports)
If you connect a true TB or USB4 SSD, however, the port will operate in TB/USB4 mode and the drive will get it's share of the full Thunderbolt bandwidth, without the 10Gb bottleneck of the internal USB hub.
On an "old style" TB3 dock, there may be multiple internal USB 3.x controllers running off PCIe - so if you're strategic about what ports you use you may get more than 10Gbps of USB bandwidth - but bear in mind that some of those internal controllers are also serving sound, SD card readers etc. Still - TB3 remains a perfectly valid choice if you don't need the multi-port
Here's Caldigit's guides to bandwidth allocation on the TS3 and TS4 hubs - note how, on the TS4 hub, the Ethernet adapter gets the sole PCIe lane and everything else that isn't Thunderbolt shares the same 10Gbps USB 3 hub - whereas on the TS3 there are 2x5Gbps and 1x10Gbps hubs serving different ports & devices.
Bandwidth allocation breakdown and diagram for the interfaces on the TS3 Plus.
www.caldigit.com
www.caldigit.com
Here's a diagram for the Element hub - if I'm reading it right, all the connected USB 3 devices use the orange pathway, only TB devices use the blue pathway.
www.caldigit.com
...it gets even more convoluted because it all works differently depending on whether the hub is attached to a TB4/USB4, TB3 or USB-C/3.x port...
Apologies to the thread starter because this is all over-thinking things unless you're worried about squeezing the last drop of bandwidth and lowest latency out of your USB... I'll just re-iterate my
Too Long: Did Not Read - TB/USB4 hubs are worth it if you want to connect a mixture of true TB/USB4 devices, displays and USB 3.x peripherals, but if you just want to connect a bunch of USB 3.x devices a cheaper USB 3-only hub will probably do the same job.