Google Play Billing 3 library - New update needs to be implemented

We have detected that this app uses an old version of Google Play Billing. By November 1, 2021, all app updates will need to use version 3 or later of the Play Billing library. Upgrade to version 3 before that date. Learn more about the Google Play Billing 3 library.

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This is a new warning you get in the Google Play console after using the built in billing component. Btw. the same warning occurs also after using my billing extension.

Which means, there is time until November 2021 to switch to the new version 3.
Meanwhile take the warning as what it is: a warning and ignore it.