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That is absolutely TB and was one of the recommended docks in the Mac world for a long time.

Have you talked to support? Or I wonder if it’s an issue on the LG side.

That's pretty interesting. Might be worth trying a new displayport cable, or checking whether there's a firmware update for either the dock or monitor.

No one would be able to answer this for you in your house with your cables with your speakers. Get another one and test it.