In general, there are 3 different types of styli that work on older iPads. (those that don't support the Apple Pencil).
The first, passive capacitive. These are the cheapest and easiest to find. Some have a "mesh" tip. Others have a foam tip. Still others have a clear disc. These will work anywhere on the ipad where a finger press will work. There is no native palm rejection with this type.
The second, powered capacitive. These are a bit more expensive and are fewer in options. They have a relatively fine point and use power (batteries) to generate a field to emulate a finger tap. The
DotPen and
Adonit Dash 3 are 2 examples of a powered capacitive stylus. There is no native palm rejection with this type either.
The third, powered, bluetooth. These are even more expensive. They generally have a fine point. Because there is no standard, they can only be used to its fullest with applications that are specifically designed to work with a particular stylus. These apps support pressure sensitivity and palm rejection and can support custom actions for those styli that have buttons. The Wacom Intuos Stylus 2 is one of those bluetooth styli.
I have plenty of passive capacitive styli as well as the DotPen and Adonit Dash 3 powered capacitive styli. I have avoided the bluetooth styli because of their reliance on particular applications written to support certain styli. I didn't want to be limited in how I use the stylus.
That adds a bit of complexity to your situation. You'd need to investigate which apps that support that stylus are still available in the app store and will the version of the app that runs on the iPad 3 supports that Wacom stylus.
You'll be somewhat limited regardless because the iPad 3 is fairly old.
I currently use the Apple Pencil on my 2018 iPad but I use the Adonit Dash 3 on my iPad Mini 4 when I need to use a stylus on a smaller iPad. There's no native palm rejection for it, but certain apps, like GoodNotes, has their own palm rejection that works pretty well. For drawing programs, I use a homemade art glove (a $1 cotton glove with the thumb, index, and middle fingers cut off).