Before the pandemic, I was a frequent spinner (3 or 4 times a week).
My experience was a drop in blood sugars even when I had no fast acting insulin on board.
But, we are all as different as spin classes are different.
It is not unusual for HIIT to cause a rise in blood sugars and some spin classes are more HIIT-y than others.
During the pandemic, I have been doing Zwift workouts which are the closest I can get to spinning at home, This definitely causes my blood sugars to plummet but it is more endurance than most spin classes so I am not surprised.
I recommend persevering. If your blood sugars alway rise, take some insulin before you start (climbing makes my blood sugars rise so I take enough fast acting insulin to aim for 3mmol/l knowing I will never get there) but always keep hypo treatment close to hand.