For this upcoming release we are trying to keep feature parity where possible. This is a feature that is generally available in Terraform and has an api that is almost the same.
One significant note is that by default OpenTofu supports most s3 compatible endpoints out of the box, without having to disable s3 checksum validation (as opposed to Terraform 1.6.3).
Also our backwards compatibility with older endpoint configurations is fully supported, without any configuration changes. Terraform (as of 1.6.3) still does not function correctly with bare endpoints.