Trolli obsidian wheel code

It depends on what the code is.

If it is a steam code which is seen as this:
XXXXX-XXXXX-XXXXX
then you can redeem it on Steam but to get the reward you need to play on the Steam version of Sea of Thieves in order for game to recognise the code and apply it to your account.

If it is a Xbox Code which is seen as this:
XXXXX-XXXXX-XXXXX-XXXXX-XXXXX
then you can redeem it on Xbox but to get the reward you need to play on the Xbox console in order for the game to recognise the code and to apply it to your account.