Can the 2020 M1 Mac Mini be used with a 27” and 34” Widescreen display simultaneously?

I have two desks sitting next to one another. One is a desk I used for writing and office work. The other I use for music production. I am considering purchasing a second monitor and dumping my old Windows laptop. I am wondering if it would be possible to have a 27” monitor, which I currently own, hooked into the HDMI out, and then get a USB-C/Thunderbolt to DisplayPort adapter and run that to a 34” Ultra Widescreen monitor to be used for music production. Are there any downsides? Would I still be able to use the beautiful scenery wallpapers included with Sequoia?