As shown in the previous video I had to trick the printer to accept this type of cartridge by masking some of the micro switches it uses to detect the type of cartridge but that solved one problem and created another one. The text was now mirrored because that works out for regular label tape which gets printed on the inside of a transparent film. However for heatshrink where the label gets printed directly on the tube, it will end up reversed.
I’ve only tried one combination with the 3 micro-switches but some people suggested in the comments that I should try other switch combination and boy were they right because I did find another switch combination which causes the printer to accept the cartridge and mirror the text as well. So this is the right combination to use with my type of printer and this type of cartridge. The two bottom holes need to be opened, and only the single top hole needs to be covered. You can use a small piece of kapton tape like I did here.