There are a zillion theories about body fat, particularly belly fat, and how to lose it.
One theory says elevated cortisol is linked to belly fat, and reducing stress helps reduce cortisol levels. Studies indicate cortisol is elevated in people with chronic pain, so getting stress and pain under control may help. That's really tough this year due to the pandemic and related economic pressures. (Avoid the news and social media, apparently major sources of stress for some folks judging from what I hear from friends who are obsessed with their daily doses of micro-outrage over dozens of offenses over anything and everything.)
What worked for me was cutting way back on carbs (especially beer) and sugar, eating more meat and eggs for protein (I get gas from legume proteins, even with digestive enzymes), but I don't go full keto. I've been able to add more dairy by betting lactose free milk, etc.
I do fasting rides once in awhile, 60-90 minutes, very easy pace, with only water or electrolytes minus sugars/carbs. If you're not sure about blood sugar bonks, try this indoors on a trainer. Or walking for 60-90 minutes, fasting, with only water. Be sure to keep emergency carbs/sugar handy for serious bonks -- gels, energy bars, etc. I lost 10 lbs of body fat doing that in 2018 and have kept it off. (I had an incentive -- due to thyroid cancer obstructing my trachea and esophagus it was difficult to swallow solid food, so I was on a mostly liquid diet for months before surgery to remove the swollen thyroid lobe.)
Frankly, fasting exercise ain't easy. I feel hungry all the time when I'm doing it, but that doesn't mean I'm bonking. I just have to keep my pace very easy, drink plenty, and ignore the hunger pangs. Sure, I'm metabolizing fat. But I'm freaking hungry the whole time. It's a lousy plan for dieting and I'm not surprised it hardly ever works for most people. I'd do it only in preparation for competition.