Yes. You can connect an external card reader to the Thunderbolt 4 Dock through one of the Thunderbolt 4 downstream ports.

The Thunderbolt 4 Dock also has a built-in UHS-II (Ultra High Speed II) SD card reader, which reads one memory card at a time. Adding an external reader on a Thunderbolt 4 port lets you use more card slots or card formats at once.