I upgraded to this setup just a few weeks ago with a MacBook Air M1 and a LG 27UK850-W 27" 4K (a monitor with a USB Hub, USB-C, and 60W charging built in). Really liking it so far.
I'm using the same monitor and while I like it a lot, the USB hub turns off whenever the monitor enters sleep mode. This means you should not connect any external drives / USB sticks on this hub, due to data corruption risks. This is a known issue without any workarounds as far as I am aware. Just a minor annoyance if you are aware of it, but I have lost data to this so please be aware of that risk.
The monitor is otherwise pretty good, with decent latency and color accuracy in SDR mode. HDR mode is not good (which is expected for standard LED backlighting without local dimming), so don't forget to turn OFF HDR in the display settings of your computer. Image quality is way better in SDR.
Edit: latency and VFR (freesync / g-sync) is also decent on this monitor, despite not being marketed for gaming.
I have had this monitor for ~18 months now and it is indeed a great monitor.
My only complaint is that 4K is "too low" at 27 inches when you scale at 2x (the default so it "looks like" 1080p).
If they release a 5K model I will buy it in a heartbeat.
Sadly the only 5K 27 inch monitor that is any good is the LG UltraFine which is ~€1400 so a lot more than I am willing to pay considering this 4K LG was €440 when I bought it.
The monitor is otherwise pretty good, with decent latency and color accuracy in SDR mode. HDR mode is not good (which is expected for standard LED backlighting without local dimming), so don't forget to turn OFF HDR in the display settings of your computer. Image quality is way better in SDR.
Edit: latency and VFR (freesync / g-sync) is also decent on this monitor, despite not being marketed for gaming.