Do I need to use a cancellation token when running bulk ExecuteUpdateAsync?

I have the code below where I call a service to fetch data, then save the data in a list (transfers). Then I loop through each transfer to update a specific row in the DB.

QUESTIONS -

1. Do I need to use a cancellation token on the transaction?
2. If yes, what do I do if an db exception is thrown?
3. Is this the best way to update a large number of rows (Ex. 500)?

var service = new BalanceTransactionService();
var transfers = new List<(string, decimal?, long, string, string)>();

await foreach (BalanceTransaction balTransaction in service.ListAutoPagingAsync(listOptions, requestOptions))
{
    var charge = (Stripe.Charge)balTransaction.Source;
    transfers.Add((charge.SourceTransferId, balTransaction.ExchangeRate, balTransaction.Amount, balTransaction.Currency, stripePayoutId));
}

CancellationToken cancellationToken = new CancellationToken();
using var transaction = await _dbContext.Database.BeginTransactionAsync(cancellationToken);

try
{
    foreach (var transfer in transfers)
    {
        var stripeTransfersResult = await _dbContext.StripeTransfers
          .Where(p => p.TransferId == transfer.Item1)
          .ExecuteUpdateAsync(setters => setters
            .SetProperty(p => p.ExchangeRate, transfer.Item2)
            .SetProperty(p => p.ExchangeAmount, transfer.Item3)
            .SetProperty(p => p.ExchangeCurrency, transfer.Item4)
            .SetProperty(p => p.StripePayoutId, transfer.Item5)
            .SetProperty(p => p.EditedDate, DateTime.UtcNow)
          );
    }
    await transaction.CommitAsync(cancellationToken);
}
catch (DbException ex)
{
    // rollback if error
    await transaction.RollbackAsync(cancellationToken);
    _logger.LogInformation("Results not saved when associating payout with transfers. Stripe Payout Id: " + stripePayoutId);
    _emailService.SendEmailMessage(EmailType.Exceptions, "ReconcileTransferQueue Exception", "Exception thrown when associating payout with transfers. <br> Stripe Payout Id: " + stripePayoutId + "<br> Exception: <br>" + ex.ToString(), true);
}