Ejecting the hub will forcefully eject the connected drives, maybe not what you want if you have open files on them.
What the OP can do is to optimize the drives for "Quick Removal". Right click on the drive and select Properties, Go to Policies tab. Select the radio button for "Quick Removal". Now you can just yank the drive out (after making sure your data transfers are complete and files closed, no harm in being careful).
If the drives are optimized for quick removal, ejecting the usb hub should also work. I dont know if the hub can also be set to quick removal.