It's kind of a pain to make insert
cables, and it really wastes channels in muticore cable. If you do
it the usual way, that is. So,
wire it the Lazy Man's way.
The Purple cable is a shielded pair, feeding into a TRS at the board
end, and (as shown) TS #1 at the outboard gear end.
The Shield connects to the Sleeve of the TRS at the board end, and to
the sleeve of TS #1.
Conductor 1 connects to the Tip of the TRS at the board end, and to to
the Tip of TS #1.
Conductor 2 connects to the Ring of the TRS at the board end, and,
inside TS #1, connects to the Red wire ONLY (the joint is heatshrunk).
The Red wire connects to the Tip of TS #2.
I've used this method for a number of years, with no failures, and with
no noise problems even when running 24 channels of inserts.