Current Arch version is LTS 2.2.32 .
As per the announcement  2.3.4 is considered the current stable version:
"Version 2.3 is the current stable version with a lot of new features compared to 2.2."
I have hazy recollections from some time back that there was a reason for delaying updating to current version - don't recall what exactly.
It's been a while now, and there are some nice features in 2.3.4 
Also, our libgcrypt is up to date ( ignoring today's release of 1.10.1)
Any remaining reason not to update gnupg to current version?
 Aside - LTS 2.3.34 was released recently in early Feb of this year.  https://lists.gnupg.org/pipermail/gnupg-announce/2022q1/000470.html  https://lists.gnupg.org/pipermail/gnupg-announce/2021q2/000458.html