Yes, Titan Ridge TB3 will still be 40Gbps. It will probably still have two DisplayPort inputs, now v1.4, but both inputs can’t be using the max 25.92 Gbps on a single cable. Some configurations will require putting the second display on the other Thunderbolt 3 port.
The max for DisplayPort 1.2 is 17.28 Gbps so two of those fits fine on TB3 and should still work the same on Titan Ridge.
The most interesting thing about Titan Ridge is the variant of the chip that allows using a Thunderbolt 3 port as a USB-C input (JHL7440), so that a display using that chip can work as both a Thunderbolt 3 display and a USB-C display (same for docks). As a USB-C display, probably no PCIe device connected to the TB3 controller’s PCIe lanes will work. I’m not sure how USB devices will be connected (if the display is acting as a USB hub with internal USB devices such as audio, camera, etc. or has external USB ports). Will the display include a USB controller like current Thunderbolt 3 displays, which can switch to a USB hub, or the USB devices connected to the USB controller will switch to being connected to a hub from the TB3 controller? The TB3 controller could add a USB port, which the TB3 controller can connect via PCIe for Thunderbolt operation, or connect to the USB-C input for USB-C operation. Alpine Ridge has an integrated USB controller already, so Titan Ridge can build on that. In USB-C mode, JHL7440 would need pins for a USB connection or switch the output of one if it’s Thunderbolt 3 ports. Or maybe USB-C mode will only allow DisplayPort? – that would be sad. Intel said Thunderbolt 3 docks will also benefit from USB-C mode, so presumably USB devices will work, and not just the DisplayPort. Intel says “mobile employees could go into any shared office area or conference room with a JHL7440-based Thunderbolt 3 dock, and gain access to a larger monitor, faster Ethernet connectivity, and keyboard/mouse regardless of the laptop they have.” I assume that the laptop can be either Thunderbolt 3 or USB-C and that this an example of what Intel means by “basic compatibility” for USB-C mode.