There are products like the Sonnet DisplayLink Dual { DisplayPort, HDMI } Adapters for M1 and M2 Macs. You load software into your computer which creates virtual screens and sends periodic compressed updates to an external device. The external device uses a DisplayLink chip set to decode the compressed updates to drive your monitor. DisplayLink (not to be confused with DisplayPort) is one of the competing technologies that does this.
These do not give you first-class hardware video outputs. They're not well-suited for high-end gaming. There may be other limitations, like this:
"On macOS, protected content from iTunes and other copy protected (HDCP) players and applications are not visible on any monitors, including built-in monitors, when DisplayLink monitors are connected."
But if you're just looking for dual-monitor support for productivity applications with static displays, these sorts of products might be a possibility.