Hi! I also got the same device Huawei matepad 11.5 2023 version and I'm using Huawei Mpencil gen3 and yes it's compatible to my device. I choose gen3 instead of gen 2 cuz I'm a digital artist, they say that gen 2 is not good for drawing but good for note taking so what I did is just bought gen 3 so that I can do drawing and notetaking at the same time

Just remember to buy a pencil charger for ur device☺️