Will this 1.4 cable work well with a 1.2 cable rated 2 K monitor with a refresh rate of 60 Hz ?

Yes it will. Most Display Ports and HDMI ports are backwards compatible. If you have defects consider the fact. That it might me your monitor. I had a monitor once that had a white line. I switched monitors and it was gone.

Can this achieve 4k @ 144hz, 2k @ 165hz and 1080 @ 240hz?

DisplayPort 1.4 supports 4K at 120Hz, 2K at 240Hz, and 1080p at 240Hz

can this achieve 1080 at 165hz?

Yes. Refresh rates up to 240hz were achieved with version 1.2. So with version 1.4 you're well above 165hz.

Questions & Answers: StarTech.com DisplayPort 6.6 ft 8k 60Hz Monitor Cable

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StarTech.com DP14MM2M DisplayPort 1.4 Cable - 6.6 ft / 2m - VESA Certified - 8K@60Hz - HBR3 - HDR - DP to DP Monitor Cable - 8K DisplayPort Cable

This DisplayPort 1.4 cable is VESA certified ensuring a high-quality reliable cable for all of your audio video applications
The DP monitor cable supports HBR3 and video resolutions of up to 8K@60Hz
The 8K DisplayPort cable lets you enjoy higher contrast ratio and vivid colors with HDR support
The certified DisplayPort cable features locking connectors to provide secure connections
The DP to DP cable features thin 34 AWG wire for flexible installs with minimal clutter

$22^.04 –