Mac Mini M1 and Older Thunderbolt Display

I have a new Mac Mini with M1 chip connected to a model A1407 Thunderbolt Display from 2012 (Serial C02JR3CWF2GC). The display connects to the Mac Mini with a Thunderbolt to USBC adapter by Apple.

I have been having issues waking the display from sleep. With or without peripherals connected the issue persisted until today when it would no longer wake at all.

I removed the Thunderbolt Display and instead connected a Philips 272P which is working flawlessly with the Mac Mini with the M1 chip.

I reinstalled the Thunderbolt display with my Mac Mini Intel processor and it is performing flawlessly with no issues waking from sleep.

Apple Support calls my display a "Vintage" unit. I'm wondering if anyone has had this issue with the combination of the M1 chip and an older Thunderbolt Display by Apple?