my recommendation would be to avoid wrapping untreated steel exhausts. if youre wrapped it, it should either be stainless pipe... or ideally ceramic coated stainless.

that wrap accelerates exhaust rot on untreated stuff. ive seen it happen on too many cars.
it does work though! keeps things cool (not as cool as ceramic coating... but still) but youll be replacing any non stainless parts relatively soon if theyre wrapped...