According to the official Link Cable webpage:
USB 3.2 Gen 1 Signalling 5 Gbps USB 2 / Backwards-compatible
POWER SUPPLY : 3A
Oculus Link requires a high-quality USB cable capable of supporting data and power. You'll also want to make sure that the USB cable is at least 3 meters (10 feet) for an optimal and comfortable experience.
You can also use a third-party cable. While quality can vary across third-party cables, we've tested the Anker cable internally with good results.
(The Anker's cable, I assume)
Looks like 5Gbps speed is crucial for Oculus Link to work, though delivering power seems to be not so important... actually, it's not even recommended, since...
Oculus support says:
To keep your Oculus Quest 2 or Quest in good working condition, you should only charge your headset with the charger that was included in the box. You should also avoid charging your headset while it's in use.
However, every USB-C cable that is able to provide 5Gbps speed is also capable of providing power, so playing with Oculus Link would gradually damage Quest's battery, so keep that in your mind.
Sidenote: According to this reddit's submission...
Most of reports shows that connection speed is ~3.0Gbps even with official Link cable, and they say that they're not facing any issue.
Some of users even having ~1.2Gbps speed, but they also aren't experiencing any issue, so... 5Gbps is not so crucial? Which is understandable, since videos doesn't take that much of data value.
FWIW, you can also use Wifi to use Oculus Link(Oculus Air Link), and I suppose they aren't capable of transmitting stable 5Gbps data. Though, in my experience, I've had no issues even when playing Beat saber(which requires specific timing to play) with Oculus Air Link.
In conclusion... 1.0~2.5Gbps is sufficient. Power delivery is not so important, or rather, should be avoided.