Hi there,
MonsterInsights is fully compatible with GAv4 (we’ve fully supported GAv4 since it was publicly announced). We work directly with Google Analytics’s tracking team to bring all of the latest and greatest features from GA along with exclusive MonsterInsights-only features to both our free and paid versions.
While Google Analytics isn’t configured out of the box to be Google Analytics compatible, you can absolutely make it compatible. We’ve got a complete guide on how to do that, a process that MonsterInsights makes it a lot easier to do on our website, and we also offer an addon with all of our paid versions, the EU Compliance addon that makes the process even easier by completing some of the work automatically : https://www.monsterinsights.com/gdpr-and-monsterinsights-everything-you-need-to-know/