Does this mean the wood is ready to turn?

Best bet is to turn from a two-minute to two-week old log, and either finish turn it and let it warp, or turn it down to an inch thick or so, and then seal, or pack in green shavings, or paper bag, or boil, or liquid dish detergent soak it - all ways to try and deal with drying stresses and variously in and out of vogue with various people or at various times. Then you can wait a year or so for the inch-thick or so roughed item to dry, remount and finish-turn it. Or go crazy with the microwave (better get the spouse a new one and dedicate one to shop use if going there) as yet another method of dealing with drying stresses and accelerating drying.

A blank cut from a log two years ago and wax sealed is a heck of a lot better than one cut from a two year old log and wax sealed, as blanks go. And an ALL CAPS SHOUTER probably did cut it from a two-year old log, not the other way around...

A blank more than 2 inches thick will not be dry at two years of age. Depending how it was stored, a thinner one also might not be. So you might as well have turned it green and then dried it.

The best source for turning blanks? If you can't just walk out the ack dor with a chainsaw and get it, either a local tree surgeon who will drop off the big stuff, or a firewood supplier who will drop off a load of green, unsplit (or split in half only) firewood. Have a woodstove or wood-fired grill/smoker handy for the chips and failures, and you're in good shape.

Exotics are an expensive habit, especially if you are still learning to turn. I've been at it for 3 decades and I'm still learning...

If you only want to turn fully dried wood, glue up boards and do segmented or patterned turning, unless you are looking to make plates or something where thin stock is all you need anyway. Dried large blanks are rather difficult to create, and expensive as a result. They are also a lot of work to turn as compared to green blanks.

That's the conventional wisdom for drying lumber, i.e. 8'+ boards, but on a small blank that's somewhere between 6" to 24" will dry much faster as the end of the wood is only 3" to 12" away from any given point. The wax will slow it down, but I'd expect it to be pretty dry by that time if it was kept inside.

If it was me, I'd probably rough turn it, wait a couple weeks and see how much it moves then finish turn it. And the microwave is always an option (be cautious).

If you're planning on turning a lot of home dried wood, a moisture meeter isn't a bad investment...

...Kevin