The Waveshare 31436 is the PCIe TO M.2 USB HAT+ module which is a PCIe To USB 3.2 Gen1 and M.2 HAT For Raspberry Pi 5, Supports NVMe Protocol Solid State Drive, expands 4-Ch USB 3.2 Ports, High-speed Reading / Writing, HAT+ Standard.
Part number: PCIe TO M.2 USB HAT+
* for reference only, the Raspberry Pi 5 and Solid State Drive are not included.
PCIe To USB 3.2 Gen1 and M.2 HAT
Designed for Raspberry Pi 5, driver-free, plug and play
Connecting to Pi 5 via 16PIN Cable
Based on 16PIN PCIe Interface of Raspberry Pi 5
Supports Gen2 standard, supports Booting PI5 From Solid State Drive

NVMe Drive Slot Support
Onboard 4-channel USB 3.2 ports
Extends The PCIe Interface to 4 × High-Speed USB 3.2 Gen1 Ports
for connecting more peripherals
Improves reading/writing speed of your Pi
Faster reading/writing speed compared to the TF card slot of Raspberry Pi,
greatly improving reading/writing efficiency of the system or files,
Supports booting Pi5 from NVME Solid State Drive

Onboard Dual LED Indicators
Easy to monitor the Working Status
Onboard power monitoring chip and EEPROM
Real-time monitoring of power status, for more stable operation
How to Install
Attach the thermal tapes first, then install the Official Active Cooler and fix the HAT
Wiki: PCIe_TO_M.2_USB_HAT+