The adapter is only for Ethernet. You cannot use it to extend a point-to-point connection, e.g. Thunderbolt 3 via fibre. Unfortunately, this is not possible with this adapter.

It's really a thunderbolt network card, so it's impossible to connect 2 PCs with thunderbolt, but they would be connected in IP like with a copper cable, so there's nothing specific for the monitor and other peripherals...
Works very well on a Lenovo T15p with Archlinux :-)

If you have two of these devices, it should be possible to connect them directly to a fibre optic cable via a fixed IP address. I used to connect my server with fibre optic cable directly to my PC workstation (with built-in fibre optic network card). This allowed me to achieve super fast data transfers. I bought the adapter to replace my PC with a new Macbook M1Pro. Unfortunately, the adapter does not work reliably with the Macbook. Sometimes the connection is recognised. But more often it does not. I have already tried many things to solve the problem. It seems to be a Thunderbolt incompatibility with the Mac. So I can't recommend the adapter in combination with a Mac. Kind regards