I don’t think so. The compatibility of thunderbolt/usb is one directional: You can use a usb (and of course a thunderbolt) device with a thunderbolt interface of a computer but not v.v. a thunderbolt device with a computer’s usb interface. I don’t know any device which is capable of usb and(!) thunderbolt protocol at one interface connector. The OWC adapter is a Thunderbolt 3 device at one end (and an Ethernet device at the other end).

I don't think it's compatible USB 3.2 has a different tech. specification than Thunderbolt!
Otherwise the part does what it should on my Mac book Pro :-) !

I agree with rtacke's answer.
I briefly tested it with a USB-C to USB-A adapter, which works with the external USB-C SSD.
Does not work. I think it is also due to the power supply, as USB-C provides much higher voltages and currents than USB-A.
Even if in theory USB-A Gen 3.2 reaches 10Gbit.