Are you using HDMI or DisplayPort and which type of cables (e.g. do they convert connection type, or for example the same on both ends)? Asking as I have the same doc and about to get an M1.
Two HDMI cables plugged into the CalDigit port, which goes into a USB-C port in my MacBook. I also have an ethernet cable plugged into it as well.
I also have this dock driving two Dell 4K displays at 60hz from an M1 Max.
Using DisplayPort cables I had to use one TB port and one DP connector on the dock, but miniDP on the monitor side (full DP should work too, these were the cables I had).