Dune has been extended to support parametric libraries (currently supported by the oxcaml compiler), in the work tracked by the 'Support for Parameterized Libraries' milestone.
Our evaluation (documented on ocaml/dune#12565) has shown that odoc can build documentation for projects using the feature without encountering problems. But odoc does not currently render library parameters or parametric libraries why any distinction. We would like to add support for the latter.
@art-w is planning to take this on.