Mastodon.py makes an effort to always be as backwards-compatible as possible so that you can update to the newest version without causing compatibility issues. As such, we're not generally going to backport any possible security-related fixes to older versions - the supported version is the latest one.
If you find a security vulnerability that you think is critical enough to warrant such caution, please feel free to report it privately to [email protected] . I will try to respond as quickly as possible and work through it with you.
A possible example of such a vulnerability would be a way for a malicious server instance to overwrite local files, or execute code on a client. A non-example would be a vulnerability in Mastodon itself - please report these to Mastodon, not here, Mastodon.py does not depend on server software and as such is not transitively vulnerable.