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Yep, the off-the-shelf ones generally throttle after a while.
The best thing to do is build your own external SSD, using a metal finned chassis to house an M.2 NVME drive, ideally with a dual-role Thunderbolt/USB4 controller.
I have a couple of these with 2TB Samsung 980 Pro drives in them; they get hot but the heat sink chassis dissipates enough for them to never throttle all day long.
Gets 2.7GB/s read/write speeds via Thunderbolt as well.
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If you plan on using it a lot they get very hot quite quickly. I was hoping to store some media files on there and edit them via premiere pro but the playback was so choppy i had to abandon. Just used for one drive backups now