Martin Cleeve's book, 'Screwcutting in the lathe' covers the thread dial indicators very well (Section 5 entitled 'problems and analysis of repeat pick up'. It is concise, correct and unbiased. It is prudent to read the US forum cited above with some wariness as many of the discussions there are motivated by a desire to denigrate the metric system
Think of the thread dial indicator as a counter – the fact that it is gear-shaped is not really relevant. It is no more sophisticated that what you see if you Google 'click counter'. Every 'tick' of the counter, instead of registering someone's entrance into an event, counts one leadscrew pitch (2mm in your case).
So, if the gear has 48 teeth, it will measure 96mm per rotation. The dial that is mounted on top of that gear will not have 48 graduations on it (corresponding to one graduation per tooth) as that would be confusing. Instead, it has 12 graduations (corresponding to 4 gear teeth). Thus, each graduation on your dial will measure 96/12 = 8mm.
For the thread dial indicator to be of any use to you, the distance it measures in one revolution has to equal an integer number of pitches of the thread you are cutting. If you are cutting 1.25mm pitch, 96/1.25, or (96×4)/5 is not an integer, so the dial is no use for that thread pitch.
I am assuming the threading chart on the lathe in the Youtube video above is the same as your own. In which case, your indicator will be useful for 0.2, 0.4, 0.8, 0.3, 0.6, 1.2, 0.5, 1.0, 2.0, 0.75, 1.5, 3.0mm pitches. That is 12 out of the 18 possible ones*. It will not be any use for 0.625, 1.25, 2.5, 0.875, 1.75, 3.5mm pitches.
Martin suggests a 40t gear above, and for the 1.25mm column, that will work. But more importantly than a specific number of teeth, what it is necessary to understand is that any gear that has teeth that are a multiple of 5 will do. Similarly, for the 1.75mm column, a gear that has teeth that are a multiple of 7 will be needed. The disadvantage of the 40t gear suggested is that it will not be useful for 0.3, 0.6, 1.2, 0.75, 1.5, 3.0mm pitches as those need a gear that divides by 3, which 40t does not. The other columns need a gear with an even number of teeth, which the 40t does have so it can be also used for those ones.
If you want one gear that will do all the missing threads that the standard 48t will not do, a 35t one would do both columns, but it also has the disadvantage that it will need two different dials for the top of it – one divided into 5 and the other divided into 7.
So, the thing to take away from this is that no single gear will work with all metric threads. What you can do is assess which threads you will be cutting most often and choose a gear that maximises efficiency for those threads.
* We could perhaps discuss how many of the 'possibles' are actually useful – I do not have many screws with 0.3, 0.6 or 1.2mm pitches.