Very thorough indeed!
Apologies for posting a Thunderbolt question here despite my different board, but this is by far the best / most thorough / easiest to understand setting out of the Thunderbolt issue I have seen.
So... I have an Asus Z490A Prime with 10900K and an Asus ThunderboltEX 3-TR card. Absolutely everything working.... except the Thunderbolt card. At least, it is not clear whether the card is working or not. It works fully under Windows (both eGPU and USB ports) with the condition that it needs to be permission after logging in to Windows (presumably the required resources would be too large for the Windows default). In Big Sur I see it in the ioRegistryExplorer as attached. But, when connecting it to my Razer CORE X Chroma containing a 5700XT, Big Sur does not appear to see either the graphics card or any of the USB sockets on the CORE X. This doesn't appear to be different whether I have connected prior to boot, during boot, or post boot.
I have tried both with and without adding ACPi / KEXT / DRIVER but without impact.