From: https://support.apple.com/en-us/HT202351
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On Mac computers with Apple silicon, you can connect up to 5 displays depending on the chip in your Mac.
To find out which chip your Mac has, choose Apple menu > About This Mac.
If you're using a Mac Studio with M1 Ultra:
You can connect up to five external displays to your Mac using the Thunderbolt 4 (USB-C) and HDMI ports on the front and back of the computer.
If you're using a Mac with M1 Max:
On MacBook Pro, you can connect up to four external displays to your Mac using the Thunderbolt 4 (USB-C) and HDMI ports.
On Mac Studio, you can connect up to five external displays to your Mac using the Thunderbolt 4 (USB-C) and HDMI ports on the back of the computer.
If you're using a Mac with M1 Pro:
You can connect up to two external displays to your Mac using the Thunderbolt 4 (USB-C) and HDMI ports.
If you're using a Mac with the M1 chip:
On iMac, Mac mini, MacBook Air, and 13-inch MacBook Pro, you can connect one external display using either of the Thunderbolt / USB 4 ports.
On iMac, connect your display to either of the ports with the Thunderbolt symbol .
On Mac mini, you can connect a second display to the HDMI port.
Using docks or daisy-chaining devices doesn't increase the number of displays you can connect.