This is how mine looks. I have a lot of devices connected through those docks, but System Information correctly lists only three devices on Thunderbolt/USB4 Bus 0 because those are the only devices that have actual Thunderbolt/USB4 interfaces. So that would be a question…which of your devices actually have a Thunderbolt/USB4 interface, not USB 3 or lower? Any connected devices that aren’t Thunderbolt should be listed under other System Information headings such as USB or Graphics/Displays.
…and a monitor all connected via Apple thunderbolt cables.
I have two displays that do not show up in this screen shot even though they’re connected through a Thunderbolt port. That’s because neither display is a true Thunderbolt display, and they aren’t USB displays either (they’re old!). But thankfully, USB-C supports what’s called an “alt mode” for carrying signals other than data, such as HDMI and DisplayPort video, so as long as I have the right adapter cable I can plug them into USB-C or Thunderbolt ports. My displays do show up in System Information, but not under Thunderbolt…they’re under the heading Graphics/Displays.
I looked up the BenQ PD 2705U shown in your System Settings screen shot. Its spec sheet says it has a lot of good and useful ports, but none of them is a Thunderbolt port so you shouldn’t expect it to show up under Thunderbolt in System Information. Look for it under Graphics/Displays.
If you connected your display using a Thunderbolt cable without using an HDMI or DisplayPort adapter, is it plugged into the USB-C upstream port on the display? If so, then according to the PD 2705U spec sheet, it’s talking to the Mac’s graphics hardware using DisplayPort alt mode through USB-C, not Thunderbolt. This also means you don’t have to connect the display with an expensive Thunderbolt cable, you could use a more affordable USB-C cable.