Question about Lenovo ThinkPad Universal Thunderbolt 4

Yes, but this dock cannot provide the full electrical power that the P1G5 needs. This means that the battery might just charge slower, or the computer will be slower than with a more suitable dock. However, you would probably only notice this when gaming.
Search for Lenovo ThinkPad Workstation Dock, e.g. Lenovo ThinkPad Workstation Dock (Thunderbolt) This connects with a bundled dual cable, which gives more electrical charging power.

I don't know if your ThinkPad is compatible. But I can tell you that my notebook charges.