Disabling IDFV and Personalized Ads
Disabling IDFA is possible. There are two ways, programmatically, and through Google Analytics "admin panel". Additionally, you should probably setup your Firebase accordingly, and configure all GADRequests. I explain all of them below.
Programmatically disabling IDFA
To programmatically control whether a user's Analytics data should be
used for personalized advertising, set the appropriate default
behavior in the app's AndroidManifest.xml file, and then use the
methods described below to override that default behavior.
To set the default personalized advertising behavior, set the value of
GOOGLE_ANALYTICS_DEFAULT_ALLOW_AD_PERSONALIZATION_SIGNALS to NO
(Boolean) in your app's Info.plist file.
Disabling IDFA via settings
You can also control whether data collected from end users may be used
for ads personalization via the ads personalization setting, found in
Google Analytics’ Property settings.
Here is a screenshot of this setting in Google Analytics "Admin Panel":

Go to your Google Analytics dashboard, select the Product, then follow these steps:

Disabling during Firebase setup
Additionally, make sure you use AnalyticsWithoutAdIdSupport
when you add Firebase to your app. See the documentation here.
If you installed Firebase through CocoaPods by adding pod
'Firebase/Analytics' to your app's Podfile and wish to disable
collection of the IDFA (a device's advertising identifier) in your
Apple app, ensure that the AdSupport framework is not included in your
app. To install Firebase without any IDFA collection capability, use
the following subspec in place of pod
'Firebase/Analytics': pod ‘Firebase/AnalyticsWithoutAdIdSupport'
Serving Non-Personalized Ads via GADRequest
Additionally, you can configure GADRequest objects to specify that only non-personalized ads should be requested, as explained in the documentation.
The following code causes non-personalized ads to be requested regardless of whether or not the user is in the EEA:
let request = GADRequest()
let extras = GADExtras()
extras.additionalParameters = ["npa": "1"]
request.register(extras)
Disabling IDFV Collection
You can also disable IDFV (Identifier for Vendor) collection.
If you wish to disable collection of the IDFV (Identifier for Vendor)
in your Apple app, set the value
of GOOGLE_ANALYTICS_IDFV_COLLECTION_ENABLED to NO (Boolean) in your
app's Info.plist file.
IP Anonymization
IP Anonymization is no longer necessary according to Google Analytics 4 documentation:
“In Google Analytics 4, IP anonymization is not necessary since IP
addresses are not logged or stored.”
Disclaimer: I only write this answer to help others. This is not a legal advice, and information in this answer may not be complete, up-to-date, and/or correct.