Do Pokemon in ultra space wilds have a higher chance of being shiny?
A Shiny Pokémon's appearance in the Ultra Space Wilds is determined by the distance travel during the Ultra Warp Ride and the rarity of Ultra Wormhole. The farther the player travels in Ultra Space, the higher chance of encountering Shiny Pokémon.
Source
Yes.
Yes, and here's a table that details how the numbers correlate to Shiny chance.
The chart below shows the probability of shiny Pokémon appearing in each type of wormhole, except for Type 1. In Type 1 wormholes, the chance of encountering a shiny Pokémon is always 1%, regardless of the distance traveled. Type 4 wormholes will normally contain legendary Pokémon, for which the odds do not apply, but if the player has defeated legendary Pokémon in the color of wormhole, they are able to find non-legendary Pokémon, for which these odds do apply.
This article details what the four Types of Ultra Wormholes are, and how rare the Wormholes are as themselves.
Hope I helped!