The concensus, as far as i can tell, is that unless you have a clotting issue, elevated RBC/HCT isn't nearly the risk it was once thought to be.
Frequent blood dumping leads to depleted ferritin, and a rebound effect causing a net INCREASE in RBC/hematocrit. Along with chronically low iron levels.
The real issue is platelets. If they are in range, the risk is not elevated. There are studies to go along with this that J3U cites. I don't have studies favorited for frequent posting like you do but I'm sure you can find studies proving and debunking these points. That's how it always goes.
Personally I manage mine with proper hydration and electrolyte balance, methylene blue (although in some people methylene blue can stimulate erythrocytosis), 80mg telmisartan which can regulate RBC/hematocrit, and Leviathan Nutrition HemoFlow which works pretty good for me. I've never once donated blood to counter high RBCs/hematocrit. I've also never noticed an increase in my levels due to what I'm running. Anything, including my TRT, stimulates it all the same.
I should include I do also have Mediterranean Thalassemia so that's probably a factor.