Folding overpair on the flop?

I've been playing with the SB for a while now, he's been passive most of the time and folding to many cbets, but this hand made me think. Given my read of the player, is it reasonable to put him on AA/KK given his preflop + flop line?

SB is 35.94/10.94/1.55

PokerStars No-Limit Hold'em, $1.00 BB (5 handed) FTR converter on zerodivide.cx

SB ($134.50)
BB ($37.35)
UTG ($20)
Hero ($175.15)
Button ($46.80)

Preflop: Hero is MP with Q, Q. UTG posts a blind of $1.
UTG (poster) checks, Hero raises to $5, 1 fold, SB raises to $11, 1 fold, UTG folds, Hero calls $6.

Flop: ($24) 2, 9, 8 (2 players)
SB bets $22, Hero folds.

Final Pot: $46

Since he's reraising OOP his most likely hand range is AA-QQ (with QQ being unlikely in this hand) and maybe AK too. In LP his hand range is much wider - but this is all assuming you are up against a thinking player.
Its a good fold imo, his flop bet looks like he's protecting an overpair (AA or KK). Could be AK cbetting also though

Also if he has been passive this far, I fold here without regrets.

gotta toss it

Not folding is basically pure gambling, as there's probably at least a 50% chance he has A-A or K-K and won't fold. Wait for spots when your edges are greater, and/or when you can outmaneuver people.