Dracut currently modifies lvm.conf settings on the fly when generating initramfs image so it's suitable for that environment (e.g. locking_type, use_lvmetad and other settings like hosttags and volume_list).
We already have configuration profile functionality in recent versions of LVM2 hence it would be better to use this method of overriding lvm configuration instead. In that case, dracut would call all lvm commmands using this profile like:
<lvm command> --commandprofile dracut ...
This will automatically override any existing lvm.conf settings. An advantage of such solution would be that the dracut.profile would be managed directly by LVM and it will always be set up in in a way which is suitable for dracut initramfs image to work correctly (e.g. adding any new lvm.conf setting could also be reflected in the profile as well and we don't need to bother about making lvm and dracut in sync with respect to settings - dracut would just copy recent /etc/lvm/profile/dracut.profile into the image on initramfs (re)generation).
Currently, the set of profilable settings is restricted and it needs to include all the settings that need to be changed for dracut (at least the ones mentioned at the beginning of this comment).
This is just for making dracut's LVM handling easier so it doesn't need to bother about setting and overriding selected settings itself. Let's have this resolved in Fedora first as RFE, then let's clone for RHEL once it's available.