While the Vue2 has the 250A limitation for the mains, Utility Connect has no limitation on panel capacity. So, this approach is correct!
Utility Connect for the mains, then two Gen 2 Vue Energy Monitors into the separated panels, and nest them together! The only limitation to keep in mind here is location, because the Utility Connect is only an option in select markets.
More related info:
Gen 2 Vue Energy Monitor – How does it work?
Our Gen 2 Vue Energy Monitor can be set up anywhere in the world and gives you the measurements of your live mains and your individual circuits to show your total usage in real-time through the Emporia app. The Gen 2 Vue measures voltage, phase, and current to calculate power and it works in system voltage (line-to-neutral voltage per phase) under ~264V and the line amperage must be under 250A for the main lines (monitored with a “200A” CT).
More information on the 250A amperage limitation to the mains: https://help.emporiaenergy.com/hc/en-us/articles/4408877035415-How-does-it-work-