Do Thunderbolt 5 docks work with my Thunderbolt 4 or older laptop?

Generally yes, with caveats. Community reports show Thunderbolt 5 docks are backward compatible, but at least one verified owner found their Thunderbolt 4 laptop couldn't drive monitors off the dock's TB5 ports specifically. If you don't own a TB5 machine, most reviewers say a Thunderbolt 4 dock delivers the same practical experience for far less money.