If you're using your company's network, then they have every right to monitor all of the activity on it. They're trying to protect trade secrets, future plans, customer data, employee records, etc. from attackers who would use that information to do harm to the company, its customers, and its employees. If you don't want your employer to know what you're doing, then don't use the company computer or company network to do it. And while you may think that you're too tech savvy to fall prey to malware 1) not everyone at your company is, and 2) no amount of savvy will protect you from all malware, especially ones that gain a foothold through an unpatched exploit. And there's also that whole other can of worms: malicious employees.
If you're using your company's network, then they have every right to monitor all of the activity on it.
I would never trust a company device, or company network, with anything I consider sensitive. Use your own device and keep it on cellular.
Also though I don't like it, employers in the US do have the right to open mail addressed to you personally if delivered to the office.
(Note: I would also never trust a company device or company network, and I keep my personal devices completely separate from the company network for this reason. But I consider this a workaround for a deplorable situation, rather than just the way things are.)
I would argue against such an approach if there are alternatives but if the organization's leaders were set on it I would engage with the process and make sure that it did not evolve into more unethical practices such as logging all traffic contents or the above banking example.