There is currently a feature flag in edx-platform that allows you to switch between md4 and blake2b hashing. This was added to allow operators to control the timing of the change from one hashing algorithm to another.
The proposal is here: [DEPR]: Remove md4 caching and related ENABLE_BLAKE2B_HASHING feature flag · Issue #36024 · openedx/edx-platform · GitHub
Acceptance date is: 2025-01-10T05:00:00Z
Removal target would be early April which would give folks 4 months more to transition.