Modifying column compression of existing table - Any impact to querying or inserting while compression is being modified?

My team is hoping to convert many of our numeric and date/time based columns to az64 encoding.

What I am wondering is if there is any impact to querying or inserting to these tables while the compression for various columns is being modified? This AWS post makes it seem that querying is not affected, where it says the following:

With the new ALTER TABLE <tbl> ALTER COLUMN <col> ENCODE <enc> command, users can dynamically change Redshift table compression encodings. Redshift will take care of adjusting data compression behind the scenes and the table remains available for users to query.

However, it doesn't mention any impact to inserts on the table, or any other considerations that need to be had. My team has some critical pipelines which depend on the availability of these tables, so I want to be sure that modifying the compression will not result in delays for us.