Is it a problem though? Old versions of VLC still work fine; I have it on my iPad 2 but haven’t updated it in over 5 years.
Old hardware doesn’t have to worry about security updates because it’s already insecure. So unless VLC stops working, I don’t need updates. And it’s not like my iPad is capable of playing HEVC 4k HDR video anyway, so new codec support isn’t a problem.