From Google Maps it looks like the trail is a hard packed, crushed cinder pathway. I cannot speak from experience but I would probably wear my super shoes on this run. My only concern would be if the path was heavily soaked with water.

It's been a while since I ran there but I recall it being hard packed. Bring the race shoes.

Victoria local here, there is at best 100m of “groomed trail” on the run course (north west corner of Elk Lake). The rest is hard gravel road and the entire course is suitable for carbon racing flats. I volunteered in 2019 and every pro I saw was in Vaporflys or equivalent sponsored carbon plated shoe. Rinny won in her Hokas for example.

Even that one section, carbon plated shoes are perfectly doable. I’ll will be wearing a pair and have run many laps of the lake in them.