According to Android Authority, a Reddit user noted that this particular policy change affects the use of the Accessibility API by app developers. These changes will take effect from 11 May onwards.
“Only services that are designed to help people with disabilities access their device or otherwise overcome challenges stemming from their disabilities are eligible to declare that they are accessibility tools. It should be obvious when reading the Google Play Store description of an accessibility tool who those users are and how the app helps them meet the challenges they face. The Accessibility API is not designed and cannot be requested for remote call audio recording,” - says Google
However, according to 9to5Google, “This policy change will only affect the third-party apps on the Play Store. Many default dialer apps like the Google Phone, Mi Dialer, and more have native call recording functionality built in on specific devices. Those default dialer apps on devices such as Pixel and Xiaomi smartphones will not be affected by the change."
So that's a relief for those who can record calls using your pre-installed dialer app. However, if you use an app downloaded from the Google Play Store, call recording may not be possible moving forward. This decision of google has received a lot of negative feedback and now it becomes more important for users to choose their new phone wisely as Dialer apps from Samsung, Xiaomi ( in a few regions ) allows users to record a call without notifying the same. But who knows, maybe at a later stage Google may enforce OEMs to provide their dialer as the default dialer, Only time can tell.