That should not be necessary, I have this currently on OMV4 and the option nofail is not included in the mergerfs mount point and it should not be necessary what trapexit it pointing out is that if the individual drives already have nofail, which in OMV they do, then mergerfs will mount. If a drive does not have that or fails then the megerfs will not mount.
I have the same microserver with mergerfs and snapraid and it runs flawlessly, I have also tried and tested OMV5 in a VM with mergerfs and snapraid setting it up exactly as it is on my OMV4 and I've not needed to add that option, it does what says on the tin.
My snapraid/mergerfs/luks setup was similarly flawless on OMV4, it's only been since the move to OMV5 these boot issues have started. I suspect it was the nofail flag all along (and not the encrypted drives) that caused initial issues.
The last boot fail came after I did a hard reset due to the system stalling on a large file size copy between two drives- the source drive subsequently dropped from OMV.
No issues since nofail flag. Can't explain it, but moving on to learning how to balance my media folder between old and new drives.