2 official rulings from Bandai, last ruled Sep 6, 2024. Straight answers to how this card actually resolves.

When I use this card's <Delay> effect to digivolve into a Digimon card with [ShineGreymon] in the hand, can it digivolve regardless of its digivolution requirements?
No, this card's <Delay> effect does not allow ignoring digivolution requirements, so you can only digivolve into a card that meets the digivolution requirements.
Ruled Sep 6, 2024
When I use this card's <Delay> effect to digivolve 1 of my Digimon into a Digimon card with [ShineGreymon], what area does the card with [ShineGreymon] come from?
It comes from the cards in your hand. This card's <Delay> effect has been changed to "1 of your Digimon may digivolve into a Digimon card with [ShineGreymon] in the hand without paying the cost." Please see the notices regarding changes to the rules/rulings on the official website.
Ruled Sep 6, 2024
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Questions and answers are Bandai's official rulings, collected and translated by the DigimonCardGame Wiki community and reused here under CC BY-SA. Card names and card text are © their respective publishers; Combalo is not affiliated with Bandai.