Got a notification that some Malware extension would be incompatible with my operating system.....what should action if any should I take?

About system extensions and macOS - Apple Support:

"If necessary (*), please contact the developer to learn whether an updated version of their software is available or planned. They may also be able to explain how to remove or disable the extension, and the consequences of doing so."

(*) It's not necessary to do anything. The message is merely informing you that Mac is loading a system extension that macOS "Big Sur" and succeeding versions of macOS will no longer load.