Coaxial audio with 3.5mm can be a bit of a minefield if you don’t understand exactly what wiring arrangement is used at each end and how to achieve that. You can literally have two cables that look identical but one will work and the other won’t.
The M11 Plus uses a Fiio specific arrangement at the DAP end for coaxial out with a four pole TRRS but only two of the four poles are used. No other plug will work since it will not make a connection.
The Mojo end is a standard two pole TS mono since coaxial only uses two wires. Some cables will use a three pole TRS at the Mojo end but only two of the three terminals are used.
The simplest way to try coaxial from an M11 Plus to a Mojo is with the supplied 3.5mm to RCA coaxial adapter, a standard 75 ohm coaxial cable and an RCA to 3.5mm TS adapter. It is a messy set up but it will function perfectly and let you assess if it is worthwhile getting a dedicated cable.
The next level of refinement is a specific 3.5mm TRRS to RCA cable for Fiio DAPs from AliExpress and an RCA to 3.5mm TS adapter.
The next level of refinement for a one piece cable with no adapter is something like a Moon Audio 3.5mm TRRS to TS cable.
The two pole TS end is a standard set up and I use the Moon Audio cable below with a Mojo, Gryphon and Diablo.
I will put some photos below for reference: