Note! I write this as an answer, even so it should be a comment, since it include following question to check and answer. The issue is that the forum limit the comments to 1000 char and I am getting an error.
Note: I assume that the hardware (the Microphone on the headset and the physical connection on the docking station) works fine - This might be the issue obviously, but it is rare.
>> Are the speakers on the headset works well?
>> Is the Microphone works in other applications?
This is important question as it will guide us know if (1) the issue related to configuration of the Microphone in general, or (2) related to the configuration of the Teams Application
In the first case, use ALSA (Advanced Linux Sound Architecture) in order to check the configuration of the Microphone. Make sure that you see the right Microphone and it is selected.
Note: You might need to configure /etc/modprobe.d/options.conf and disable some options which are blocking the Docking station from being found. It is a good idea to ask this question in Ubuntu forums as well since in this case it is not related to Teams
In the second option if the issue is only with Teams (I did not tried using Teams on Ubuntu since all my Ubuntu are VM at this time), you might succeed to make it work by first use ALSA to configure the Microphone BEFORE opening the Teams and only then start the Teams app.