Isn't there an error in this article? The product page mentions:
On Windows Thunderbolt 5 PCs, the Element 5 Hub can support up to 3 external extended displays as long as the PC supports this configuration. Windows Thunderbolt 4 PCs can connect up to 2 extended displays pending support from the computer.
while according to article you can achieve four displays.
Calldigit is now selling a nem docking solution called the Element 5 Hub. This Thunderbolt 5 accessory promises an extremely high data rate and comes with several connectivity options for high-resolution 4K monitors and more.