EDIT: Apologies. Updated with a link to what gorhill REALLY said:
Manifest v2 uBO will not be automatically replaced by Manifest v3 uBOL[ight]. uBOL is too different from uBO for it to silently replace uBO – you will have to explicitly make a choice as to which extension should replace uBO according to your own prerogatives.
Ultimately whether uBOL is an acceptable alternative to uBO is up to you, it’s not a choice that will be made for you.
Will development of uBO continue? Yes, there are other browsers which are not deprecating Manifest v2, e.g. Firefox.
So what are the consequences of it being flagged? Does it change how it operates?
I don’t use chrome so it doesn’t directly impact me but I like being up-to-date on this stuff
Edit: actually read the article lol so this is related to compatibility with manifest v3
"This warning isn’t just for uBlock Origin users. All extensions built on MV2 will display this warning on the Chrome extensions page if users have updated to Chrome version 127. Users of Chrome’s Beta, Dev, and Canary channels have been seeing these warnings since June 3, 2024.
Although users can temporarily re-enable their MV2 extensions, Google plans to disable these extensions gradually over the next few months. Eventually, users won’t be able to use MV2 extensions at all and will have to switch to MV3 alternatives suggested by the Chrome Web Store."
https://www.msn.com/en-in/news/other/using-ublock-origin-google-chrome-warns-users-it-is-going-to-ban-it/ar-AA1ofsSZ