I hope I have enough yarn!

Swatching:
US 2 = 22 sts x 36 rows
US 3 = 20 sts x 32 rows

Decided to go with US 2.5/3.0mm (I don’t have short circulars in US2) and estimated gauge to be 21 sts.

CO 120 sts for a 22.5” hat in the round.

I knit (instead of purl) inside-out for 20 rows, w&t last st before BOR, and then knit from the right side, catching the back of the CO edge on the RS for a folded brim (no sewing after!).

Followed pattern decreases for size small.
Followed pattern rows for size medium.

Shortened row count for the last handful of decreases; I didn’t want it too pointy/tall. Worked out really well.

And I did not run out of yarn!