Answer: they are compatible enough to plug in, but the certification requirements are not identical — a cable certified for USB4 is not automatically certified for a given Thunderbolt generation.
- Both use the USB-C connector and can carry power, data and video.
- Thunderbolt adds its own compliance requirements (and a different logo on the cable).
- If the contract says Thunderbolt, specify a Thunderbolt-certified cable; if it says USB4, specify USB4.