Hi Jed,
you are correct the ConvertImages() class no longer supports undistorsion. The workaround would be for every relevant camera to use the Metashape.Image.undistort() method as follows:
camera
Out[20]: 2022-03-08 19:36:20 <Camera '100_0006_0004.JPG'>
image = camera.photo.image() # camera image
und_image = image.undistort(camera.sensor.calibration,center_principal_point=False, square_pixels=True) # undistorted image
und_image.save(path=export_path+'/'+camera.label,compression=compression)