I've been running this setup. Mac mini M1 connecting to LG 4K monitor over HDMI at 60 Hz, with DisplayPort to a 4K Wacom Cintiq also at 60 Hz. It works flawlessly.
Out of interest's sake, what kind of resolution are you running? I found 3008x1692 to be perfect for my 4K screen, but it actually doesn't show up in Display preferences unless you option-click the "Scaled" radio button.
I'm using the standard scaled 1920x1080 resolution on both of my screens. I don't see the 3008x1692 option on my 27-inch LG 4K, but I do see the option on 16-inch Wacom Cintiq. It's a little bit too small on my 16-inch, though.
I see. On my screen, 1920x1080 would be far too large, but then the full blown 3840x2160 resolution would be absolutely tiny. I tried to approximate something that is similar to my MacBook Pro's retina screen. I guess it also comes down to what one is comfortable with. The beauty of the 4K screens is that no matter the resolution, the text is always crisp.
Ah. I sit about 60~80cm away most of the time from my bigger 4K screen (due to the space needed for my Cintiq when I'm drawing). I tried several resolution after your previous comment and found 2048x1152 to have the best balance between real estate and readability at my viewing distance. I should give this a try for few days. Thank you for suggesting to have a look at the resolution!