It was never the drive, the cable, the drivers, or Windows. On my board (Gigabyte B650I AORUS Ultra) it’s specifically the Type-C ports. Both the rear USB-C and the front-panel USB-C only ever bring up the USB 2.0 pins; the SuperSpeed lanes never get connected. That’s why Magician says “Slot Max: USB 2.0” while the drive and the PC both report 3.2, and why the same drive and cable are fast on a Mac.
The test that proved it: plug the T7 into a rear USB-A port using any USB-C to USB-A cable that is actually USB 3 (blue insert, 9 contacts). Mine immediately showed Interface: USB 3.2, Slot Max: USB 3.2, and transfer speed went from ~42 MB/s to hundreds. Nothing else changed. Every software step in this thread (power settings, selective suspend, uninstalling the xHCI controller and hubs) was irrelevant.
Why the Type-C ports do this I still don’t know. A USB-C port needs a small mux chip on the board to route the fast lanes based on cable orientation; the USB 2.0 pins don’t need it. If that chip isn’t doing its job you get exactly this symptom. Someone else with the same board and CPU reported the identical thing on the LTT forums with no fix found. I’m going to try a full power drain (PSU off, unplug, hold power 30s) to reset that controller and will post if it changes anything.
Lord Dover: your Magician says PC Max USB 2.0, which is a different line than mine, so it may be a different cause. But the USB-A test takes two minutes and will tell you whether it’s your Type-C port or something wider. James Murphy: yours matches mine exactly; try the USB-A port.
Short version: if Magician says “Slot Max: USB 2.0,” the port is the problem, not the drive. Try a different port type before touching any drivers.