According to the official VueScan website, VueScan is compatible with macOS Big Sur, so it should be compatible with a MacBook Pro 14.
Yes, the software is compatible with the HP ScanJet 4050 device. On the official website, you can check all the supported features available within VueScan.
Official website: http://www.hamrick.com/vuescan/hp_scanjet_g4050.html
Visit the website and scroll down to technical information to learn about the supported features.
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