As mentioned in atlassian.com/bitbucket-pipelines-runner-upgrade-required:
To maintain stable access to the self-hosted runner functionality, and gain the benefits from these improvements (as well as numerous other security and performance updates), all customers are required to upgrade to version 3.0.0 or above before December 2, 2024.
It does not state here (nor anywhere else I could find), whether existing self-hosted runners below v. 3.0.0 might experience any impact past December 2. Is this date a hard limit and there is some possibility for errors/instability?