The "USB Type C - DisplayPort (1.80 m, USB Type C, DisplayPort)" cable from digitec is typically uni-directional. It can only transmit signals in one direction, namely from a USB-C port on a device to a DisplayPort port on a monitor or projector. It cannot be used to connect a DisplayPort connector on a PC to a USB-C connector on a monitor.
The maximum refresh rate for the USB Type C - DisplayPort cable is up to 240 Hz at 4K/UHD resolution (3840x2160) and up to 60 Hz at 8K/UHD-2 resolution. This corresponds to the support of DisplayPort 1.4 or higher with high bandwidth.
This does not necessarily apply to the HDMI version, as HDMI cables support different maximum refresh rates and resolutions depending on the version. Standard HDMI 2.0 cables support 4K at 60 Hz, while HDMI 2.1 cables support 4K at 120 Hz or 8K at 60 Hz. The maximum refresh rate therefore depends on the HDMI version of the cable and is not automatically the same as for DisplayPort cables.
The maximum refresh rate of the USB Type C - DisplayPort cable is up to 60 Hz at 4K resolution, as it is a DisplayPort 1.4 cable that typically supports 4K at 60 Hz. A higher refresh rate such as 120 Hz is not specified for this cable.
This USB-C to DisplayPort cable can be used with a Mac Mini M4, as it has Thunderbolt 4 ports that support DisplayPort video output. However, to connect an LG Monitor UltraGear OLED 32GS95UV-B display, make sure the display supports DisplayPort output via USB-C. The Mac Mini M4 supports up to two displays via Thunderbolt and one via HDMI, but this specific cable uses USB-C with DisplayPort, which should work if the display is compatible.