The backupmediafamily says it's the "Physical block size used to write the media family".
I understand (from research) it relates to the physical specs of the underlying disks of storage you're using. If that's the case, you could verify that info with your storage admin. This Advanced Format article says:
Note: Software and documentation may sometimes refer to "sectors" and "blocks" interchangeably, regardless of the storage type.
Physical sector size
This is the smallest unit a physical storage device claims it can write atomically. For HDDs, it is the
actual size of sectors in a platter. Traditionally, the physical
sector size for HDDs was 512 bytes, meaning that each sector could
hold 512 bytes of data. However, with the introduction of Advanced
Format HDDs, the physical sector size was increased to 4096 bytes (4
KiB) for increased storage density and improved error correction
capabilities. SSDs do not expose their actual NAND flash memory page
size, which typically ranges from 4 KiB to 16 KiB, instead their
reported physical sector size is the same as their logical sector
size. For NVMe SSDs, if it is available, the Atomic Write Unit Power
Fail (AWUPF) parameter value is used.
Logical sector size
The logical sector size, also known as the operating system sector size, represents the size of the sectors
exposed to the operating system and applications. It is the sector
size used for reading from and writing to the storage device at the
software level. The logical sector size can differ from the physical
sector size. For example, an Advanced Format HDD with a physical
sector size of 4096 bytes may still present a logical sector size of
512 bytes for compatibility with older systems and applications.
But from this Dell Storage with Microsoft Storage Spaces Best Practices Guide doc, it seems your new file server is composed of older hard drives:
Older hard drives had a 512B physical sector size, while newer drives
have a 4 KB physical sector size and either a 512B logical sector size
(512e Drive) or a 4 KB logical sector size (4Kn Drive).