Ah, now I noticed, on your device there is no mention of USB PD. Mine has a different marking, PD is mentioned with the “USB-C Output” - the ad on aliexpress also states the PD In- and Output capability. And it works in principle - with both of my USB PD devices (Pixel 3A and Thinkpad X280) it puts out a higher voltage. Just when the devices draw a little more current (above 1 A) the voltage drops and the PB2S turns off (and restarts in 5 V mode). 5 V mode works, but at 1.9 A the voltage also starts to drop to 4.7 V on the devices meters.

EDIT: With a Samsung QC phone it sits at 8.8 V and 1.2 A. Tremendous situation, don’t know if the phone is just happy and doesn’t want more, or it doesn’t ramp up further because it detected voltage drop. I ordered a USB PD cable I can splice into for adding a multimeter and/or additional load. But thanks for the helpful answers so far!