A CAC-1332 might be preferable because it includes a USB 2.0 connection to support the USB devices of the display (audio, camera, brightness control, USB ports, etc.). I don’t think club-3d makes the CAC-1332 anymore. In that case, there’s the CAC-1336 which can do 5K, unlike the earlier adapters, but that depends on the GPU.
I don’t know if the CAC-1332 or CAC-1336 will work better with the Apple Studio Display than your CAC-1333.
One thing I would try is replacing the Thunderbolt cable with a normal USB cable (10 Gbps).
Another thing I would try is putting a Thunderbolt 4 hub between the adapter and the display. It helps with the CAC-1336 for non-USB-C displays.
Exactly which Lenovo L14 do you have?
The Lenovo L14 only has HDMI 1.4? That might be good enough for 1440p60.
Doesn’t the Lenovo L14 have a USB-C port that supports USB-C DisplayPort Alt Mode? I would try that.