APPLE INSIDER
A number of users running macOS Big Sur 11.1 or 11.2 are experiencing external display connection issues, according to reports across social media and support forums.

The issues appear to have started in macOS Big Sur 11.1, according to reports from Apple Support Communities, Reddit, and the MacRumors forum. The recently released macOS 11.2 update doesn’t seem to have fixed all of the problems, and some reports indicate that it actually worsened them.
Source: APPLE INSIDER