Existing Time Capsule drive should mount and be usable under MacOS 26.
But if you erase it, it will NOT allow you to use it any more.
and MacOS 27 felt out refuses to talk to it any longer.
AFP deprecated:
The terminology around this issue is very confusing. You need to read carefully to understand exactly what is being retired.
When you back up to a Server, you use a Server communication protocol to talk to the Server. Examples of Server communication Protocols are Apple File Protocol (AFP), which should rightly be called Apple File [Server] Protocol. and Server Message Block (SMB) developed by Microsoft and revised and updated many times since it first use.
What is being retired is every version of Apple File Protocol (AFP), This is not to be confused with Hierarchical File System Extended (HFS+) MacOS Extended, or the relatively new Apple File System (APFS). AFP (being retired) is a very old Server communication protocol, NOT A Disk Format.