For this module yes, voice is only possible over 2G, VoLTE was not really around when this module was developed (about 5 years ago) and its a major feature addition that the chipset never benefited from (the chipset vendor needs to implement it. It should in theory fall back to 2G for both an incoming and outgoing call call but if you cannot see 2G then obviously it cannot fallback to it.
You can check to see if KSRAT is 9 by sending at+cops=? which will ask the unit what networks it can see.