So the EF-S STM lenses really appeal as they are so affordable and offer decent performance, and the M50 appeals as a body.
The EF-S IS STM lenses are very good performers for the buck. They lack snob appeal, but you can take fabulous pictures with them. The other great thing about them is that you can carry them with you, while the people with those enormous FF lenses will be writing to DPR, asking which lenses to leave behind on vacation and how they can possibly get them onto a plane. And you'll get the pictures and they won't. The 10-18, 18-55, and 55-250 gives you a huge range of focal lengths. The 10-18 is a bit soft in the corners, but so what? It's an ultra-wide. I have taken fabulous indoor architectural photos with it. I think they're all or almost all discontinued, but you can still buy them somewhere.
The M50 Mark II is preferable to the M50 if you can swing it, and it seems like a steal for the price. It has a much better sensor. I think there's a reason it's very popular.
The EF-S and EF lenses work very well with the Canon adapter and my M6 II. They should be just fine with the M50. One minor problem is that if you use the tripod foot on the adapter with a quick release plate, the adapter can get in the way of the battery and card compartment, and can interfere with removing the adapter. So mixing EF-M and EF-S lenses can be a little inconvenient if you use the camera with a tripod with a quick-release plate. If you go out for the day without tripod, just remove the tripod foot, and no problem.
Now here in New Zealand, Canon are offering the M50 + 15-45mm with a free EF to EF-M adapter plus EF 50mm f/1.8 lens. It seems like a great deal, as I would plan on adding the EF-S 55-250mm STM for my son's sport anyway. I have considered the EF-M 55-200mm, but the 55-250mm is cheaper, a bit faster, a bit longer (which I need), and from reviews probably a bit sharper.
The EF-M 15-45 is beautifully small. Lens snobs hate it, and maybe it isn't the sharpest one in the bag. I've used it a little, and it's probably just fine. The EF-M 11-22 is supposed to be one of the best at any price. Even the lens snobs love it. You may eventually fall for the really small size of the EF-M lenses.
The EF-M zoom lenses (and only the zooms) have image stabilization, and are very susceptible to shutter shock on the M6 Mark II, resulting in fuzzy images. I think with the M50 II, which I think has electronic first curtain shutter, solves that problem, so you're in luck. Better check. Also, in my tests the EF-S 18-55 and 55-250 lenses have been much less susceptible to shock than the EF-M 15-45. More information than you wanted, but I think shutter shock with the M6 II may be one reason for the bad reports on the 15-45.
All this leaves me wondering if I should just leave the adapter on the M50 body and build a system on EF-S lenses to put on it.
I was just interested in feedback from people who are using their EOS M bodies pretty much exclusively with adapted EF lenses, how well this works, and if it makes sense what I am considering.
It makes a lot of sense. I use the EF-S 10-18, 18-55, 55-250, the EF 400/5.6L, the EF-M 15-45, and the EF-S 60 macro. No problem. One other thing. The 400/5.6 is a big lens, and the M6II is tiny. So what? Some people worry that people will think a big lens makes the camera looks too small, or that there is a "balance" problem, or that you can't hold the lens with that camera. That's stupid on all counts. If you need reassurance, ask and I will elaborate. If anyone comments, just tell them "my lens is bigger than your lens"--but only if it applies.
A couple of other thoughts: Canon cameras have lens corrections stored in the camera, and this helps improve the lens performance. The M6 II can store data for only 3 lenses. This is maddening. I don't know about the M50, but you can check. Also, don't overlook the SLRs. They're being phased out, but they will still take pictures and last a very long time. Bargains are probably available. My SL1 is underrated, in my opinion. I'm sure the SL2 and SL3 are underrated as well, plus there's a whole fleet of amateur SLRs to consider. I did once send it back to Canon under warrantee, to adjust the focusing alignment (I gave it a very hard knock), but it still performs beautifully after about 40,000 shots.
Good luck.