I have the same problem too with an iKling 9 in 1 USB Hub (not sure what the model name is). It seems that power is transferred to whatever you connect to the USB ports, but not data.
I've also noticed that if I charge my M1 MBP through it, it messes up the charge percentage display, and it shows incorrect values.
didn't have this problem with macOS Monterey beta 1.
Other USB Hubs seem to work ok.
MartinKL
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Same on 16" M1 Max MacBook Pro