I don't trust any non standard wiring getting to my expensive equipment unless I've determined what goes where before hand. On my permanently limited budget, the DR-40 is "expensive." I don't even ask musicians to let me record cable direct from their mixers or guitar amp line outs until we've known each other a while so they trust I won't short out their $700 Fishman or a Bose L1. I'm not shy to disassemble or even cut open a product if it's the only way to figure out what makes it tick. Used to freak out stereo sales reps when they put their fantastic new amp on the counter, thinking we'd buy a case lot for the store, just taking their word for it.
I just spent 20 minutes looking up the Boya M1 here and there and information is sparse. I would take a blind guess, those 4 pins on the 1/8" most likely conform to the Apple smartphone system, which is Left, Right, Ground, Mic - counting from the tip to the sleeve. TRRS.
The ATR-3350is is TRS - Left / Right / Ground. Both need that Right channel signal omitted or shorted to ground before it gets to the DR-40.
Two Amazon examples of an inexpensive lav that has an XLR plug ready to go and uses phantom power are
Movo LV4-C XLR Phantom Power Lavalier Cardioid Microphone; also
Comica CVM-V02O Phantom Power Omni-directional
Phantom power - you should be OK with a 1A wall wart. DR-40 spec'd maximum current draw is 340 mA. Even professional condensor mics only draw under 20 mA.
I put a USB power monitor between my USB power adapter and the DR-40 set to 4 channels and the current draw bumped up from 80 mA to 170 mA when I switched it to 48V phantom.
That said, running one large diaphragm condensor mic using the phantom from the DR-40 on 2200 mAH AA batteries, ran down the batteries too soon for me, but I typically record for 60 to 90 minutes at a time.