Is there a way to update to iOS 12 on iPad 2

No. An iPad 2 is hardware-constrained to running no higher OS version that 9.3.5, or 9.3.6 for some cellular iPad 2 variants. Nothing can be changed or upgraded do make a higher OS possible for it.

I still use our iPad 2 daily, but apps were installed 6-7 years ago, so it still has compatible older versions of things like Netflix and Amazon Prime. If you just got this iPad, you probably won't be able to find very many apps that are compatible today.

iPad2 can only be updated to iOS 9.3.5 (WiFi Only models) or iOS 9.3.6 (WiFi & Cellular models).

Apple ended update support for iPad2 in September 2016. Your iPad cannot be updated to iOS 10 or later major versions of iOS as the internal hardware does not meet the minimum technical requirements for new versions of iOS/iPadOS. This limitation cannot be bypassed; iPad2 is a 32-bit architecture device, whilst all recent versions of iOS/iPadOS are designed for 64-bit hardware platforms. iPad2 is effectively obsolete.

Compatible Apps for your iPad are increasingly difficult to find - as third-party developers are increasingly dropping support for older versions of iOS preceding iOS11/12/13. As older versions of Apps are removed from the Apple App Store, you’ll not be able to (re)download or install them - which may severely limit the usefulness and utility of your iPad if you should you ever need reset or restore your iPad. As such, if you want or need to access most current Apps, requiring more recent versions of iOS, you’ll need to consider replacement of your iPad with a newer or current model.

Of current models, even the entry-level iPad8 has specifications and capabilities that will massively outperform you current iPad - and is compatible with the vast majority of current Apps. Other models are more powerful still.

I hope this information provides helpful and succinct clarity as to your available options - and the limitations of your current iPad.

No way.

That over 9-year old, 2011 iPad 2 model is simply too old, now.

Sorry.

If you need/want an iPad with an up to date OS with up to date apps, then you need to seriously consider a new iPad model OR a much, MUCH “newer” , used iPad model capable of running the latest iPadOS 14 versions.

There are plenty of newer, older iPad models that can run the current iPadOS 14.

Sorry & Best of Luck to You!