The prerequisites indicate that the Splunk DB Connect extension will not work with systems that are FIPS compliant. Will this change in future releases and is there a timeframe for this release?
No one here in the Community knows the answer to that and Splunk's policy is to not attach dates to future features. We'll know about it when it's released.
Check https://ideas.splunk.com to see if others are asking the same thing and vote for it.