Hi Stephen, my apologies for the late reply.
the 1st generation Pegasus devices can still be used on new Mac hardware and OS versions, but please keep below in mind.
You need to have an adapter to connect your Thunderbolt2 device to the new USB-C type Thunderbolt 3/4/5 connectors on new Mac hardware, these are sold by Apple directly.
Also, please check on your existing Mac in the Pegasus Utility > controller if you have the latest version firmware installed on your device. It should be 5.04.0000.61 for the 1st generation Pegasus.
If not, download the file from here: https://www.promise.com/DownloadFile.aspx?DownloadFileUID=4530
Once downloaded, open the Pegasus Utility, unlock it in the bottom left corner, then, in the main Mac menu, choose Admin > Firmware update to start the update process.
Lastly, you will need to install the DEXT driver for the latest version Pegasus32 hardware on the new Mac.
This driver is backwards compatible with the older Pegasus hardware.
https://www.promise.com/DownloadFile.aspx?DownloadFileUID=6963
You can also install the Pegasus32 utility on the new Mac to manage the device.
https://www.promise.com/DownloadFile.aspx?DownloadFileUID=6878
Kind regards,
Frank