Mmc2: error -110 whilst initialising SDIO card

The driver will only pull the configured reset line low on removal. This could be caused by Linux attempting to insert the driver multiple times after a probe failure.

From the trace you’ve provided, the RESET line high voltage level is only 1.8V. It looks like the ALFA M2 module uses an MIC826 which is supplied with a VCC of 3.3V.

These are the input voltage levels of the MIC826

As your reset line is 1.8V, this is under the 0.7Vcc required for an Input high level.

Try adding a pull-up from the RESET GPIO to 3.3V.
If the iMX8 baseboard you are using already has a pull-up to 1.8V you would want to consider removing it.