You are correct.
The override is manually applied to the configuration. The dialogue only states the software is out of date. Good correction.
Took a quick look through the code and I didn't find anything regarding user input (y/n keep running): https://github.com/bitcoinknots/bitcoin/blob/5f8256608fc41c7b72a01a54e9a06ba509a61c8f/src/validation.cpp#L4458
Related issue: https://github.com/bitcoinknots/bitcoin/issues/29
Looks like it does stop validating blocks if it's expired, which probably seems odd, but might be useful to a clueless node runner?
nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s has expired iOS software so he understands it well!
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