It was your reading of 4.6 that caught my attention.
That is exactly the reading that I go down to, at my lowest, with solid, sustained exercise - just as you are doing.
For me, it is a very simple thing, although it took me a while, and a libre, to work out what was happening.
I live the whole of my life with a certain level of insulin resistance (I think most T2 types do, though it varies for each of us). So our usual readings are taken before and after food, or fbg, and include the fact that insulin resistance (IR) makes the reading a bit higher than it would be without the IR.
Then along comes a nice bout of sustained exercise. We use up glycogen stores in the muscles, and liver, we burn glucose for energy, our muscles get loose and warm and efficient - and our IR drops - and we start to get the bg readings that our bodies would have the rest of the time, if the IR didn't bob us back up to the higher readings, like a cork rising to the water surface.
Does that make sense?
Exercise is well known for reducing IR.
For me, that means that I start exercise on (for me) a typical 6.2, do enough exercise to reduce the IR, drop sharply to 4.6 (always 4.6! lol), then flatline there until one of two things happen; either I eat something with a few g of carbs, or the effect of the exercise fades slowly, and my bg bobs back up to its usual IR levels.
Probably worth noting that this only happens when you exercise enough for it to happen, and the fitter you get, the more exercise is needed for the same return. I have never found the right sustainable balance between exercise and IR reduction. I just get fitter, my body stops dropping the IR so much, and the fitter I get the more exercise is needed for the same effect. Rather disappointing, really. And it is the reason why I never believe the hype that exercise is the Cure All for T2s with IR.
Hope that helps.