No direct experience with DGVoodoo2 used with FE, so can't comment on that.
My first experience has been with an older (but hardware capable) Windows 10 desktop that had FE2 installed - IIRC, there was no need to change compatibility or other settings. I upgraded the desktop to Windows 11 a couple months after it was first available and had no difficulties with operating FE2 after the upgrade.
Sometime after that I purchased a new Windows 11 laptop. After installing FE2 in the new machine I experienced choppy flight experience with an occasional hard CTD. Changing the FE2 properties to compatibility with Windows 7 was a partial solution, as was checking Settings/System/Optional features/More Windows features to be sure both “Legacy” boxes were checked. Another option that seemed to help was downloading and installing the DirectX EndUser Runtimes Web Installer program that may be found at:
https://www.microsoft.com/en-us/download/details.aspx?id=17431
Good luck! And for all the rivet-counters out there, here's my mandatory forum screen pic: