You can use the insert points in a way but it’s not ideal because the insert points are pre-fader. That means moving the channel faders will have no effect on anything sent out through the insert jacks. It is however post-trim control and EQ, so the trim control and EQ will give you some level control. The M-200 series mixers do not technically have direct outs.
Unless you’re using it to record more than four tracks at a time it doesn’t really matter. The boards are 4-buss and have duplicate RCA program buss outputs to connect to all 8 input channels of an 8-track recorder. Most of the time you’ll be using the busses because you can route any or all the board channels to one or two tracks, and up to four tracks at once while multitracking.
If you want to try the direct out way the cable you would need has a 1/4 TRS (Tip-Ring-Sleeve) phone plug (like a stereo full-size stereo headphone plug) on one end and two RCA plugs on the other. The M-200 insert points are handled by one plug, like a stereo plug. The tip is the send and the ring is the return. The sleeve is the common ground for both.
The Hosa part number is TRS-201, but I don’t see them on the site in your link. Here’s one at Sweetwater:
Hosa TRS201 (1 Meter) | Sweetwater.com
You can also use these if you angle them so they don’t run into each other, and then use any length RCA cable you need:
GPR484 Hosa GPR-484 Analog Audio Adaptor, Dual RCA to 1/4" TRS
You can also make a cable that taps the signal at the insert, yet also lets it continue the normal signal path for monitoring purposes. This cable would have a TRS plug on one end and a single RCA plug on the other. The tip and ring would be bridged inside with short length of wire or just soldered together, depending on what the TRS plug looks like inside. This keeps the circuit complete while still letting you tap the signal… basically a foldback arraignment.
Hope that helps