Thanks for the thoughts both.
I thought I would give it a try on Unraid 6.12 and saw the reservation reduce by ~200GB per drive as shown below.
Interesting, This would be the same position as the rest of the community upgrading existing disks from their 6.X instance upon upgrade to 7?
An additional thought, does that mean 6.x to 7.x upgraded users will have a mix of xfs version disks within their array when they add their next disk post upgrade?