2022 PU1 is not a prerequisite when installing PU2 from an install point of view. PU2 will install successfully without PU1 installed. PUs are normally cumulative, so installing the latest PU for that version of Sage 300 should contain material from all the prior PUs. From an install practice point of view, I would recommend installing PU1 prior to installing PU2, especially for version 2022. Then run regacc.exe manually from the runtime folder. The reasoning is PU2 added new features which added fields to the product, so I would treat this like a mini upgrade. As we know, a requirement with upgrades from prior versions is the latest PU needs to be installed.