Indirect, not too hot or the bacon will burn before the pork has cooked.
When She Who Must Be Obeyed picks out something it’s always up to me to figure out how to make something edible out of it!
Good luck, I have always found those things to be way too salty for me.
I like to wrap pork tenderloin in bacon then grill with indirect heat.
A pork loin is a different matter, I would look at unwrapping it then do a wet brine or injection of some sort and loosely drape the bacon over it. Then indirect heat until center is desired temp. It's easy to end up with a dry chunk of pork. Don't ask.
I agree with the others who say to remove the bacon. I’ve just never been able to make it work. The bacon doesn’t cook well, it doesn’t improve the moisture of the loin and everyone just removes the half cooked bacon when you put a slice on their plate.
Personally, I’d remove the bacon, brine it, cut it into nice size pork chops and then smoke them.
I actually cooked up a packaged, pre-marinated, bacon wrapped pork tenderloin for last evening's dinner. I set up the kettle for two zones, and seared the tenderloin (with bacon still on it) over direct heat for a couple of minutes all the way around to firm up the bacon. Then I moved it over to the indirect side, added corn on the cob on a raised rack, covered it, and pulled it off at 147 degrees. The bacon wasn't nice and crisp like at breakfast, but it wasn't rubbery either. The pork was delicious and very tender.