USB 3.2 gen 2x2's theoretical speeds cap out at 20Gb/s (or 2.5GB/sec). It's certainly a performance improvement compared to USB 3.0, but still doesn't quite meet the performance of an internal NVMe. If your PC supports Thunderbolt, you get double the bandwidth (so 5GB/sec) which does match what some slower PCIe 4.0 NVMe drives can handle. This is of course assuming you're comparing to a NVMe, a SATA drive won't come close to these speeds but I believe most laptops these days use NVMe drives.

Regardless, if you're loading games off a USB 3.2 gen 2x2 interface, and assuming you're using a single drive to a single controller (keep in mind that performance is split between connected devices per controller, and PCs often only have a couple controllers at most to manage all the ports), your read performance is probably more than enough.