I don't know where Tim II got his info from about Wolves wanting a British manager/coach, and I'm not saying it's wrong.
Fosun have already sacked a British manager so they could bring in an Italian one in the place of a Spanish one they had lined-up who went, unsurprisingly, to manage his national side when given that option.
So surely, if you are Fosun, you would look for a manager who has quality and a proven record of management in football, and to limit yourself to someone who is British, would be counter-productive if there are better non-British options available, and there certainly are.
While I think Fosun may have expressed a preference for a British manager, I feel they will struggle to find one that will meet the criteria needed to achieve their known goals.