default or selected kernelversion does not have config value CONFIG_EXT2_FS_XIP.
Result is shown for kernelversion 6.5.1

Ext2 execute in place support

configname: CONFIG_EXT2_FS_XIP

Linux Kernel Configuration
└─>File systems
└─>Ext2 execute in place support
In linux kernel since version 2.6.20 (release Date: 2007-02-04)  
Execute in place can be used on memory-backed block devices. If you
enable this option, you can select to mount block devices which are
capable of this feature without using the page cache.

If you do not use a block device that is capable of using this,
or if unsure, say N.