Assumption here is that you cannot check your luggage thru:
You need to collect the luggage and recheck (at least as far as I know). Normally this should be barely doable, but it would be too tight for my taste and there is no room for delays or problems. What happens if you arrive too late at TG check in? Can you rebook your ticket or do you need to buy a new one? Is there even a later flight or will you be stuck in Hong Kong?
HKG immigration can be a bit of a zoo and I assume you cannot use their immigration kiosks. In normal circumstances you should be tru immigration, have your luggage and thru customs in 45-60 min after docking of your plana. But it could be longer.
The walk from customs to the TG counter (follow the signs to T2, there is a tunnel below the train station) should be around 10 min.
Cutoff there is 60 min.