One approach to dealing with the updated colour contrast value is to add a new technique using the new value, making it a sufficient one for the contrast criteria.
https://www.w3.org/2020/07/14-ag-minutes.html#item07
Deprecated formula is currently referenced in Note to glossary reference for relative luminance, see:
https://www.w3.org/TR/WCAG21/#dfn-relative-luminance
Three instances:
if RsRGB <= 0.03928 ...
if GsRGB <= 0.03928 ...
if BsRGB <= 0.03928 ...
Should be:
if RsRGB <= 0.04045 ...
if GsRGB <= 0.04045 ...
if BsRGB <= 0.04045 ...
See Issue #360 for the long version.
Here is a graphic of the formula from Issue #695

Hi @bruce-usab, I think the task was to create a technique (maybe based on G18?) that would use the newer value.
That could be copy-paste G18 into a Google doc and highlight the updates you make, or:
Thank you @alastc for that clear direction. My comment above was mostly to distill for myself the specifics of the discrepancy.
Sorry if I was 'process-splaining'! I'm just running through issue statuses and working out where things are.
No, that was helpful!
I have created PR https://github.com/w3c/wcag/pull/1223 using the correct threshold value.
Hi Andy,
That's just a WCAG 2.x update allowing for the use of the 'newer' value.
-Alastair