The v2.0 release of OCIO is planned to be made in the next few months. The updating to v2 docs states -
OpenColorIO is “feature complete” at SIGGRAPH 2020 (late August). This means that feature development concludes and a stabilization period begins during which the focus will shift to bug-fixing and refinement of features based on developer feedback and testing.
OCIO v2 is in the VFX Reference Platform for calendar year 2021 and so the plan is to tag an official 2.0 release towards the end of the year to support this.
There is some pressure to remove v1 ocio from packages due to it requiring python2.7 for building the documentation.
At this stage blender fails to build with the current master of ocio.
...blender/intern/cycles/render/shader.cpp:399:27: error: no member named 'applyRGB' in 'OpenColorIO_v2_0dev::Processor' to_xyz_processor->applyRGB(r);
I expect this would probably be a two step process, first adjust existing code to build with v2 and then looking into taking advantage of new features.