Can Spotlight display Instagram Story Highlights?
No, but this is one area we're looking into.
Instagram's API does not currently provide Story Highlights that are older than 24 hours, the same as with normal live Stories on your Instagram account. For this reason, even if Spotlight had an option to display Story Highlights, it could only import those from the past 24 hours and nothing older than that.
If you'd like to make a feature request and recommend a way that you'd like to see this work, please contact us to let us know.