First of all, congrats on securing your final round !
Regarding the questions to the interviewer, I always recommend asking 2 questions, one being corporate or business related and the second being personal. This would indicate that you're well rounded and equally care about work vs., culture (you don't wanna come off as way too serious ;) )
Starting with your question, which falls under the 1st corporate category, I think it's interesting to get the partner's input on the economic outlook without mixing in too many factors (you mentioned pandemic ending, geopolitical conflicts, stock market etc.,). The more precise and accurate you are, the more structured and concise you portray yourself as. I would advise limiting the question to "With lots of market and geopolitical drivers (such as Russian-Ukraine conflict and recent pandemic) driving the stock market down and higher inflations, how do you expect the PE and M&A market to evolve in the next years ?
It's also good to add your own hypothesis right after asking the question, using your question as a window to show that you also know what you're talking about e.g., “personally, I think the PE and M&A activity will likely continue surging as companies look for ways to protect costs and widen revenue streams, but would love your take on it given your experience in the industry"
As mentioned before, it's always good to ask another question that's also personal e.g., what is one advice you would give a new joiner after years in the industry ?
Best of luck !