No, the Delkin Devices POWER CFexpress Type B 128GB is not compatible with the Insta360 Ace Pro 2.
Insta360 Ace Pro 2 has a microSD-only card slot (no CFexpress support of any type). Its own product page confirms only microSD card compatibility -- CFexpress Type B uses a physically different, much larger connector and cannot be inserted into a microSD slot.
What works instead
See all compatible memory card for the Delkin Devices POWER CFexpress Type B 128GB →“Please use a Micro SD / TF card that meets the UHS-I, V30 or higher specifications and is formatted as exFAT.”
Last verified:
Compatibility inferred from spec rule (citations above are manufacturer-verified)