^^^By way of a fact check what was actually stated at the time can be gauged from this article in the Daily Record:
https://www.dailyrecord.co.uk/sport/local-sport/celtic-rangers-colts-categorically-one-24053717
...Some fear the Colt teams could become a regular fixture in the division, but Fraser has insisted that is not the case, with an earlier proposal for Colt teams to be accepted into the SPFL's League Two still under consideration...
It was only a one year deal because the OF colts still wanted into League Two for 2022-23. That's not happening and the Club 42 rule has now been adjusted to be compatible with the presence of "guest teams" so we are where we are. This saga will repeat every year around this time until either the LL tell them to GTF or the SPFL invite them in.