The 229 grease has soluble moly, not solid molydenum disulfide, and is dyed red. It has a high tackifier content and won't flow into smaller antifriction bearings (ball-needle-roller). It'll work fine on wheel bearings larger than pickup truck size, as will the very tacky 228.
The moly is no problem. I've got about 80,000 miles on the u-joint needle bearings in my truck with #274 syn-blend moly grease, and they're doing great. I just put that grease in my trailer wheel bearings and they don't warm up at all at highway speed. For years the grease for wheel bearings was described as "stringy", not buttery. Modern greases don't need this stringy characteristic.