Indeed your laptop has USB4/TB4 and 11th gen Intel Core™ i7-11800H CPU. It is normal that this laptop does not support USB 3.2 gen 2x2, but only USB 3.2 gen 1x2.
It is actually the same for some new 12th gen and 13th gen Intel laptop with USB4/TB4 and new AMD laptops with USB4/TB4 but with no support of USB 3.2 gen 2x2. Same for M2 based Apple laptops/desktops which do not support USB 3.2 gen 2x 2 (20Gbps).
https://support.hp.com/sg-en/document/c08184071
But this should not be a real problem as your laptop should be able to work with TB3 to 10G adapter, if you are keen to subscribe to the 10G plan.
On the other hand, it is cheaper for desktops to add 10G PCIE adapters (SFP+ or Copper).
Reference 1: some new Intel laptops with USB4/TB4 support also have USB 3.2 gen 2x2 support.
Lemovo Yoga 9 14IRP8 with Intel 13th gen Core i7-1360P, USB4/TB4, but no USB 3.2 gen 2x2 support.
https://psref.lenovo.com/syspool/Sys/PDF/Yoga/Yoga_9_14IRP8/Yoga_9_14IRP8_Spec.pdf
Ports[1] Standard Ports
• 1x Headphone / microphone combo jack (3.5mm)
• 1x USB 3.2 Gen 2
• 1x USB-C 3.2 Gen 2 (support data transfer, Power Delivery 3.0 and DisplayPort™ 1.4)
• 2x Thunderbolt 4 / USB4® 40Gbps (support data transfer, Power Delivery 3.0 and DisplayPort 1.4)
Notes:
[1] The transfer speed of following ports will vary and, depending on many factors, such as the processing speed of the host device, file attributes and other factors related to system configuration and your operating environment, will be slower than theoretical speed.
USB 2.0: 480 Mbit/s;
USB 3.2 Gen 1 (SuperSpeed USB 5Gbps, formerly USB 3.0 / USB 3.1 Gen 1): 5 Gbit/s;
USB 3.2 Gen 2 (SuperSpeed USB 10Gbps, formerly USB 3.1 Gen 2): 10 Gbit/s;
USB4 20Gbps / USB 3.2 Gen 2x2 (SuperSpeed USB 20Gbps): 20 Gbit/s;
USB4 40Gbps (USB 40Gbps): 40 Gbit/s;
Thunderbolt 3/4: 40 Gbit/s.
Reference 2: some AMD laptops with USB4/TB4 support do not have USB 3.2 gen 2x2 support.
https://www.hp.com/ie-en/products/laptops/product-details/product-specifications/2101766554
Ports
2 Thunderbolt™ 4 with USB Type-C® 40Gbps signaling rate (USB Power Delivery, DisplayPort™ 1.4);
2 USB Type-A 5Gbps signaling rate (1 charging);
1 HDMI 2.0;
1 stereo headphone/microphone combo jack 12
Footnotes and disclaimers
12. SuperSpeed USB 20Gbps is not available with Thunderbolt™ 4.