I installed it with a Rzyen 5 without a built-in gpu. It works fine but I don't think I can connect a thunderbolt display like that. But for me this is a very optional feature; I use thunderbolt to connect eGPU boxes and I connect the screens with HDMI or DP. If the screens are not "thunderbolt only" many combinations are possible. As @brokenseal says: the EX 4 does not include a GPU but you can connect all types of GPU with the display port. If you want to connect thunderbolt displays.

Hi,
From my experience, this card does not redirect graphic content, you need a separate graphic card for that.