Using OWC Express 1M2 + WD Black SN850X 8TB on my M3 Ultra, with Thunderbolt 5.
Mostly with Red Komodo RAW, Canon C70 RAW and Canon R5 8K RAW footage.
Didn't notice any slowdowns after working on it for 5-6 hours. Using Davinci Resolve Studio 19.1.4. A lot of Edits, a lot of Color and some Audio work.
It does get a little hot, but not so hot that you can't touch it, you just feel that it is hot, but nothing so hot to worry about.
How hot it became it depends on how you use it, and also what nvme you are using.
Here are 2 screenshots of speeds reached with 5GB test file, one after few runs, the other after 10 minutes run, if that mean something to you.
Few runs 5GB

- DiskSpeedTest_WD8TB.png (205.03 KiB) Viewed 602 times
10min runs 5GB

- DiskSpeedTest_WD8TB_10min.png (204.67 KiB) Viewed 602 times
Obviously it does get more hot with those tests then when working normally, but nothing so hot that you can't touch it.
Very happy with it for now.