McCarthy was back at Wolves for the first time since being sacked by the club in February after almost six years in charge. Goals from left-back Aaron Cresswell and striker DJ Campbell made it a happy return for McCarthy as Ipswich earned their seventh win in 12 games under his control.
The former Republic of Ireland manager said: "I would be lying if I said it was nothing special because it is."
He added: "My last game here (a 5-1 defeat against West Brom) I had to go out of the back door and I will never forget that. It was a real horrible day for me.
"So to have won and to have had the applause and ovation I got I think shows what most Wolves fans really thought about me as opposed to the minority that would not let me leave by the front door."
In contrast to the revival that McCarthy has masterminded at Ipswich, Wolves continue to be in freefall having now won just three of their last 15 games.
For the second successive game they were booed off at half-time and full-time and manager Solbakken conceded that his players looked "scared".
Solbakken said: "It is the same story as against Peterborough (a 3-0 home defeat on Boxing Day).
"We started okay but after Ipswich scored it looked like an uphill battle. For me when you are under an amount of pressure like you are now then it is about having to win the battle with yourself."
He added: "I think at the moment I think we look a little bit scared."