Link Cable alternative
TLDR: Ethernet to USB-C adapter works with Quest 3
I Always head Tearing and lagging issues with Link Cable and using VD or Steam link via WLAN was always suboptimal because of the latency and the occasional instability, especially during when someone else is also using the internet via same WLAN. Besides the bitrate I could go reliably was 150-200 Mbps.
Compression artifacts were very visible during some games where the graphics are bit detailed like foliage, trees and dark areas and night scenes.
Recently i came across one post that mentioned that Ethernet to USB-C adapter works with Quest, so i ordered a adapter with PD 100W charging (I just picked literally the cheapest one off amazon for 13 Euro).
And now i have maxed out the bitrates in VD and no lag or compression issues anymore. Of course Its still visible to the keen eye that its not a direct DisplayPort lossless connection, but during gameplay it was as good as Link Cable connection, and i can still have fast charging for longer sessions.
The Adapter with Charging Passthrough
Yes it is bit clumsy even in comparison to Link Cable, but depending on the Content/Games you enjoy it maybe good solution that you were looking for.
Although we can also hope that Meta makes USB link available for third parties or improves their software themselves, but for now this is the best PCVR experience i could have.