What is the explanation of the phrase: "O Allah, inspire us with understanding of the wisdom in Your actions," and does anyone know the wisdom of Allah Almighty's actions except for Him, Glorified and Exalted be He?

The phrase "O Allah, inspire us with understanding of wisdom in all Your actions" is not reported from the Salaf, and it is better to adhere to what is reported in supplication. For all of Allah Almighty's actions are based on perfect wisdom, and it is not permissible for any of His actions to be devoid of wisdom. The minds of His servants may not grasp all of His wisdom, and submission to Him, glorified be He, is required first. For if the servant comprehends the wisdom, his faith increases, and if he does not comprehend it, his submission and certainty that Allah is All-Wise, All-Knowing, increase. Asking Allah to know all of His wisdom may be considered a form of transgression in supplication; it is better for the servant to ask his Lord to teach him what benefits him, as the Prophet, peace and blessings be upon him, used to supplicate.