[cryptsetup 2.x]: cryptsetup ignores --iter-time param and stick with default for LUKS1 format
cryptsetup luksFormat -i1 /dev/sdb
cryptsetup luksDump /dev/sdb:
(...)
Key Slot 0: ENABLED
Iterations: 2302032
^^^^^^^
LUKSv2 with argon2 or pbkdf2 kdf looks fine