Designer2_Mac.mov
On the Mac the icon change at first to a knife. If you select a line it change into a scissors. You can now slide along a line until you find the position to set the cut. Click and you cut the line at this position. Very nice. This happened exactly on my iPad in Version 2.0.2.1 with a Apple Pencil 1.
In Version 2.0.2.2 it changed to this
Designer2_iPad.mov
You select the knife - but there is no knife icon. If you select a line, it didn't change to a scissors, but for a second you see a cutting mark. If you try to move this cutting mark, it seems to be change back to the knife mode and it will place cutting points along the movement. The only way to find now the right cutting point, is place the pencil at first click on the right position on the line. This is freehand with iPad and pencil not so easy as is look like. The version 2.0.2.1 was like on the Mac and much better.