At the moment there is no list of what specific items constitute
"Legacy Media", nor any instructions from Apple as to how to find and
identify the same. Hopefully more information will be forthcoming. The Mojave
upgrade was released just a couple of weeks ago, so the issue is not pressing,
until the next upgrade is released.
Meanwhile, if you know that some of your projects are using media generated
from old technology, or were modified by old technology or third party apps,
you might want to address those projects.
As you probably know, the link below contains Apple's current explanation
regarding Legacy Media:
About legacy media in
iMovie for macOS - Apple Support
Quicktime Player converts legacy media using the .mov pro res format. When you open the clip in Quicktime you will see a conversion box. That would identify that it is legacy media.
-- Rich