A significant point of contention between Wong and Strange is that in Strange's absence (as a result of getting 'blipped' out of existence for 5 years) Wong became Sorceror Supreme by default.
Peter: Wait, I thought you were the Sorcerer Supreme.
Strange: No, he got it on a technicality because I blipped for five years.
Spider-Man: No Way Home
Strange evidently feels that as he's the more puissant wizard, Wong should abdicate and give him the title. Wong disagrees and periodically reminds Strange that certain forms apply, notably that Strange should bow to him.
In return, Strange says that it's not that he's not aware of the customs, it's that he's aware of them and refuses to follow them.
With the additional context, the conversation should go something like this
You're welcome You should be thankful that I saved your life, in yet another demonstration of my superior powers to yours.
You know it's ancient custom to bow in the presence of the Sorcerer Supreme? I recognise that you're powerful, but I was chosen as Sorceror Supreme and by the rights and customs of the Religious Order to which we both belong, you should acknowledge that fact by bowing to me.
Yeah, I'm aware of the customs. I am perfectly well aware of the custom but choose not to acknowledge your role as I feel that it is rightfully mine, noting that I was not raised in your Order but joined at a later date.