Does this item come with the spring clips and or rubber retention bands to hold the heatsink onto one's SSD?

Yes. Mine had both two metal clips and two black rubber bands in the package. The clips seemed a little loose to me so I put them on first (inward) and used the bands to ensure they couldn't slide off.

does this item works with GEN 4 ??

Yes it does, it supports three generations, PCIE Gen 2, 3, and 4.

Questions & Answers: GLOTRENDS PA09-HS M.2 NVMe to PCIe 4.0 X4 Adapter with M.2 Heatsink for 2280/2260/2242/2230 M.2 NVMe SSD

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GLOTRENDS PA09-HS M.2 NVMe to PCIe 4.0 X4 Adapter with M.2 Heatsink for 2280/2260/2242/2230 M.2 NVMe SSD

Converting one PCIe X4/X8/X16 slot on the motherboard to the M.2 Key M slot allows you to install M.2 NVMe SSD into this Key M slot. Comes with M.2 heatsink kit for cooling up to 5°C-20°C.
FCC and CE certified, Highly Reliable and Stable PCIe X4 Full Speed: The M.2 NVMe SSD speed is unaffected, just as if it was installed on the motherboard
No limit to the capacity of the M.2 NVMe SSD: Support 2T/4T
To reach PCIe 4.0 X4 (64Gbps) full speed, the CPU and motherboard PCIe slot and PCIe M.2 SSD should all be PCIe 4.0 features (Note: PCIe 4.0 is not supported on Intel CPUs below 11th generation)
Support OS Booting: Reinstall the OS, and set up BIOS/UEFI boot from this M.2 NVMe SSD (Note: Some motherboards are too old to support OS booting. In this case, M.2 NVMe SSDs can be used as storage disks)
Plug-and-play in Windows 11/10/8/Linux/Mac OS (Note: Not support Windows 7). The new M.2 NVMe SSD needs to be initialized and formatted before it can be recognized by the computer host.

$9^.99 –