Usually the simple silver inlay of engraved lettering and done before the rust blue.
Fine Silver (.99) is used. Nice to work with and not the usual annoying quick tarnishing coating that Sterling will get.
Though Fine silver will tarnish some as well.

Cut & under-cut (dovetail the edges) the lettering just as you would as if they were to be inlayed with Gold,,or Copper,,or Brass or Platinum.

Carefully tap the silver wire pieces into place. Many times you can 'run' a piece of wire around corners of a letter so you don't have to cut it and restart again, butting the two ends against each other.
Even so, the soft metals will swage together seemlessly if carefully done. The first method is a bit of a time saver.
Inlaying lettering can be time consuming especially some styles.

This simple Block Lettering is about as simple as it gets.
All the same width (cut with one flat graver of a single width). No little caps & serifs to undercut and inlay (and keep straight and even!)

Platinum can be used if you absolutely don't want any tarnish. The color will be a bit less than the bright white of silver in most cases but not enough to tell in lettering.
The biggest draw-back in Platinum for the engraver is that it's much harder than silver or gold (or brass or copper) and any of their annealed states) and difficult to work with when compared to the others.
Price wise, it's now more $$ than 24k gold, but in times past was less I understand. I think aluminum was too at one time.

Simply flowing tin into the cut lettering will also get you 'inlayed' lettering. No under-cutting needed as it's soldered in place.
The metal is polished off just as the excess from the engraved & inlayed process is done leaving you with the flush inlay.

Rust blue won't both any of these but the carding process, especially a carding wheel can rough up the polished surface of a soft metal like gold or silver.
It will then take on a very dull look as the rust blue process is continued and when completed is sometimes quite dark and has almost a tarnished look.
Steel wool or thistle carding around and on the inlays avoids this.
Sometimes inlays that are to be detailed like animals and other figures are left smooth but final shaped. Then the rust blue is done. Then the final details are completed.

That so as not to destroy the hours of tedious detailing work on the inlay(s) with a carding wheel.
That can make for a very unhappy engraver.