I would love have something like this on a phone but only solution which I thought of other than stop using the app is decompile whole app, remove the reels and recompile it again which is not very viable solution.
I use timelimit.io for managing screen time. Nice granular controls and schedule based rules.
I apply the 80/20 rule. 8 minutes allowed, followed by 2 minutes blocked. Then at night I reverse it. 2 minutes allowed, 8 minutes blocked. Just enough time to make one search query and then get off my phone. Or if I do get trapped by something, it's only for a short time.
here are their available patches for instagram: https://revanced.app/patches?pkg=com.instagram.android