I need to replace acoustic insulation in a community room, I am looking at a widely available product containing compressed sheep's wool.

Will this pass fire safety standards?

What does the manufacturer say?

Depends where they are used - a quick check of manufacturer's data shows Compressed sheep's wool insulation typically carries a Euroclass E fire rating under standard EN 11925 ignitability tests making it combustible and limiting considerably it's use:

It couldn't be an exposed lining and you would need to investigate if it could be used as an insulating layer of a wall/floor system where the surrounding layers are suitably rated.