“Compatibility check” on carrier websites is nothing more than an internal database of pre-registered IMEI’s. Nothing more. Given the nature of many modern cellular devices having “global band” coverage this sort of screening has not aged well.
VZ would likely argue it reduced issues for customers who buy service and really have incompatible devices. It feels like a way to force you to buy a “verizon issued device”. But what is the argument for a post-paid versus pre-paid account!? Its crazy
Obviously your device is compatible. If u had an "official’ VZ jetpack and moved the sim card into your Peplink it obviously will work - without having to update the IMEI in VZ system!
One potential way around this for you is to enter in a “official” IMEI to get past their screening process. The sim card will work fine in your actual IMEI…