There is no problem doing the exercise if you can do it and you will see the results eventually.
However, if you are still eating too many carbs as a diabetic, that weight will be harder to lose.
Many posters, who are elderly and diabetic, low carb and only have to do moderate exercise (half an hour good walking) and they will lose weight.
Sustained strenuous exercise often raises blood glucose levels, and walking lowers your levels, don't know why, but it does. Don't Stop the exercise!
You will have to read up on the best way for you to lose weight and get your blood glucose levels down.
Hope this helps.