Question about Balolo Setup Cockpit L

I don't think it will fit.
Dimensions: 114 x 23 x 12 cm but inside is 10 cm high

Unfortunately not. There is 2mm missing. I think if you used thick felt glides under the legs, there would be enough space for the Mac Studio, but then the Balolo could slide around a bit.

Personally, I was thinking about getting a Mac Mini M2 Pro (I know the base Mac Studio is a better deal than an "upgraded" Mac Mini) with a Satachi SSD hub, but decided to wait and see what the M4 models are like.

No, I measure 9.5cm on the MacStudio and 9cm under the Balolo. I simply have the Studio on top of the Balolo, which is also better thermally.