Regarding limited ads: Will they show on Adsense?
So far Google always stated that it's only available for Ad Manager and Admob.

If I look at my page I am also quite happy with conextual ads (Reports/Targeting types/): They bring a higher RPM than personalized ads...

I just turned them on, the main issue is that users will have to click an extra button.
I'm not sure what's the point in users having to click on that pop-up every website they visit. It's just bad user experience, not to talk about non-tech users which will find it odd, maybe even not visit the website anymore.

Probably there will be less earnings as people will either not click to pass the pop-up.

the entire implementation of 'cookie policy' has been a mess in the last decade with so so many webmasters needlessly defacing their sites asking for permission for cookies they don't need to ask permission for. It should have been dealt with more globally, such as via ISPs or browser setting. They basically went for the worst possible implementation. We replaced ad pop-ups of the 2000s with 'OK', 'Yes', 'I Agree', 'That's OK' pop ups. Ho hum, we'll laugh about it in ten years' time, I'm sure.

I turned mine on last night, will see what the stats look like both in terms of earnings and consent %, then I might run a test for a few days on what happens if I turn it all off. Will I get blank spaces or just very untargeted ads or odd 'default' ones?

Wondering how the rest of the world is dealing with this...

I’m not bothering. even before the big changeover to CPM the earnings have been getting steadily worse, which i”m assuming will just accelerate things, so I’ve already decided to take the plunge and dump adsense altogether. If they switch it off then so be it.