Insertion or deletion of an element at a specific point of a list, assuming that we have a pointer to the node already, is a constant-time operation.
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You said it yourself: "assuming we have a pointer to the node already". That avoids the traversal you identify as the cause of the linear time.
Admittedly, the Wikipedia text is a bit ambiguous, since there are two nodes involved: the one being inserted, and the one in the list where to insert it.