This bone is a bit of an “in between”. It’s not a hardened bone or a weight bearing bone so it might be classified as a meal bone for some large and extra large breeds. However, for most dogs this would be a chew bone. To be enjoyed for awhile and discarded before crunching down on all the tasty bone bits.
You can decide what works best for your pet. If they’ve previously enjoyed eating this entire bone without any reason for concern (e.g. constipation can be common after eating) you can allow them to consume entirely. If this is a new bone for your pet, feed supervised and make the best decision for your pets