That has no effect on an inline object. I just tried it.
Inline aligns the anchored object with the baseline of the insertion point. You can adjust the Y (up and down) Offset to position the object above or below the baseline. This is the default type of anchored object.
You want your image to be anchored to the right.
So you need to use the Custom Setting.
And the Anchored Object can be set to the right
(see Custom Position Options here https://helpx.adobe.com/indesign/using/anchored-objects.html )
What it cannot do is wrap the text as this has been how it's been for a long long time.
What you can do is then create a paragraph style for paragraphs with anchored images - and you apply that paragraph style to create an indent so that the image is not covering the text.
Or reduce the width of the text frame so the image hangs outside the frame.
https://helpx.adobe.com/indesign/using/anchored-objects.html#position_a_custom_positioned_anchored_object