Insert into table select - Replication lag - Percona Server 5.6
The semantics of that statement is to do it all in a single transaction.  This may well exceed innodb_lock_wait_timeout and/or cause other operations to exceed it.

With RBR, each of the 200M rows will be separately fed through the replication stream; this is a huge amount of data (more than the table size, itself).

The Slave cannot handle any other replication during the execution of the 200M individual inserts.

What to do?  First, explain more about the situation.


Does table2 change during the operation?
Does table2 exist on the slave?
Let's see SHOW CREATE TABLE table.  (Need to see indexes, FKs, etc)
Is the schema for table1 identical to table2?
Can you switch to SBR for this one statement?  That will solve the replication stream bloat, but not the other comments.
Will it be OK to copy the rows over in chunks of, say, 1000 rows?  Each chunk being one transaction?  (That is, if there is a crash, the table may be partially copied.)  If so, adapt the tips in http://mysql.rjweb.org/doc.php/deletebig#deleting_in_chunks .