There will be a new release soon. Both Weaver Xtreme and the Theme Support plugin are being converted to require at least PHP 7.1 which adds some new PHP language features that greatly enhance security of PHP software.
There are few, if any, hosts that still provide or support PHP 5.4, and Weaver is stopping support of 5.4. I frankly do not understand why WP still requires only 5.4. It really should move to 7.1 as the minimum version.
Sites that might still be running PHP 5.4 and Weaver Xtreme WILL break, but using old version of the theme and turning off auto updates will solve that issue. It is WAY past time for PHP 5.4 to go.
Note that PHP 7.1 and above will still run themes and plugins (and WP itself) written with PHP 5.4. PHP 8.1 apparently does cause some issues with some plugins and themes. In spite of a few Weaver users having issues with their websites when their hosts switched to PHP 8, Weaver did not have any issues running under PHP 8. It will work even better with PHP 8 now as the language features introduced with PHP 7.1 are still part of PHP 8.