__cd2_oversized_truncated__ is a special placeholder (string constant) that indicates that the original data was too large to include in the result, usually several MBs in size. Unfortunately, it is not possible to recover the value of these fields/columns. However, such large values are typically the result of a mistake (e.g. a student copying a binary Word document into a plain text field), and seldom carry valuable information useful for analytics.
So the answer is no, you won't find those values somewhere else in Canvas Data 2. You may be able to get them through the REST API if you find out you really need them.
For the second question, I looked at the Canvas Data 2 Frequently Asked Questions document, which has a link to the OpenAPI spec at the bottom that takes you to the Instructure API Gateway page. Click on Data Access Platform. Near the top are schemas for PostgreSQL, MySQL, or JSON. You can also scroll down to appropriate table to get a description, but not the type, of each field.
You mentioned this was related to quiz_submissions and when I look there, I see that quiz_submissions.submission_data has a type "text" with a comment "Student answers to quiz, it shares JSON array of answers for only graded quiz submissions, it has NULL if quiz hasn''t been graded yet. Contains the `question_id`, whether the question was answered correctly, the `answer_id` and answer text."
In other words, it's a JSON object and it's stored in a text field that and not processed or split when putting it into your local CD2 database. That is, you do not try to create columns for each answer key when you stick it in the database. Just store it as it is.
In your analysis, you will need to handle it as you would any other JSON object. That may mean using the JSON functions of your database or it may mean processing it with a script. Since you don't know the name of the key, it will probably be easiest to process using a script.
If you haven't seen those documents, I'm finding them in the Canvas Data 2 section of the Canvas Admin Guide.