Yes, the Satechi Pro Hub Max is compatible with the MacBook Air M3. According to the official compatibility list from Satechi, the MacBook Air (13-inch, M3, 2024) is supported.
Regarding the MacBook Air M4, there is currently no official information on the compatibility of the Satechi Pro Hub Max. Since the M4 model has not yet been released, we cannot make a definitive statement. However, it is likely that Satechi will update its products to ensure compatibility with future MacBook Air models.
Please note that for M3 Mac devices, support for two external displays is only possible in clamshell mode.