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Part number 346-5123 (often written with a hyphen) is a genuine Caterpillar (CAT) part number for an Industrial Spark Plug.

Key information about this specific spark plug:

Type: This is typically a premium Iridium spark plug designed for long service life in demanding gas engine applications.
Design: Unlike the M18 thread plugs discussed earlier (for MWM/Jenbacher), the Caterpillar 346-5123 commonly features a 7/8"-18 UNF thread. It may also incorporate features like shielding, depending on the specific variant. It has a different physical size and appearance compared to the M18 plugs.
Application: This spark plug is specifically designed and widely specified for use in large-bore Caterpillar gas engines, particularly the G3500 Series (G3508, G3512, G3516, G3520), especially the more recent G3500 C & E models. It may also have applications in some G3600 series engines.
Features: Engineered for reliable ignition and extended maintenance intervals when operating on various gas fuels, including natural gas, biogas, and landfill gas, which are common fuels for the G3500 series.
In summary:

Caterpillar part number 346-5123 identifies a genuine CAT Iridium Industrial Spark Plug with a 7/8"-18 UNF thread. It is the specified spark plug for many Caterpillar G3500 C & E series gas engines and potentially some G3600 models, designed for long life and reliability in heavy-duty stationary gas engine applications.