Oh..well.. flake soil or fermented substrate... I guess I kinda got it right....lol
When I reared Cotinis nitida, they grew up fine with regular substrate... It was substrate of Mesquite, btw...
Yes - flake soil is fine for rearing Cotinis, but when they're ready to build pupal cells, you'll need to make the substrate at least 50% fine sand. At least, that's been my experience. Unlike species such as Gymnetis, Cotinis seems unable to build proper cells from purely organic substrate.
Cotinis larvae are full-grown in a month with supplements and might take six months on rotten wood. I am not sure if they can get as big on wood but there are many levels of wood quality and type so the answer is likely yes at least to some. They are the neatest North American cetonid to run into outdoors because they are day-active, big, and loud. Here's an old page from 35mm prints.