Finally! macOS Monterey 12.0 beta fixes the issue for me.
MacBook Pro 16 2019, connected to a Kapok USB-C PD Hub (https://www.amazon.ca/Adapter-Docking-Station-Monitors-Windows/dp/B08QVPY28N/ref=sr_1_6) connected to a 65W power adapter and a 4K HDMI 1.4 monitor.
With previous OS versions (tried 11.4 and 11.5 beta 5) I could easily reproduce the crash. With 12.0 beta I ran about 5 minutes of plug-unplug at 10-15 seconds of interval and my system is still up and running, stable.
Good luck to the rest of you!