"Ambition for Cash" was released on October 1, 2021 as the album's lead single. "Da Truth" was released on October 15, 2021 as the album's second single. "Pain Killers" was released on March 10, 2022, as the lead single from the deluxe version and the third single overall.

The album received generally positive reviews from critics. Tom Breihan of Stereogum wrote that it "is nothing fancy, and that's what's good about it. Glock makes tough, unpretentious Memphis rider music. He's got a great ear for beats and a great understanding of how to make his deep, slurry voice sound good over them." Rose Lilah of HotNewHipHop praised the album's production, as well as Glock's "willingness to adopt and try out different cadences and new flows" and having no reliance on guest artists. Mackenzie Cummings-Grady of HipHopDX stated, "Glock sounds right at home rapping over a Hypnotize Minds-inspired barrage of piano and drum kicks, but it's Glock's knack for experimentation and transparency that makes his songs deceptively hard to figure out and impossible to ignore. The best part about Yellow Tape 2 is that it's clear from his eye for specific detail Glock isn't lying. Just ask his community about him."