Installed and tested basic functionalities found here and results are as expected:

[root@fedora /]# sudo dnf upgrade --enablerepo=updates-testing --refresh --advisory=FEDORA-2024-dfaf516e1f                                                                                                                      
Fedora 40 - x86_64                                                                                                                                                                               55 kB/s |  28 kB     00:00     
Fedora 40 openh264 (From Cisco) - x86_64                                                                                                                                                        1.3 kB/s | 989  B     00:00     
Fedora 40 - x86_64 - Updates                                                                                                                                                                     33 kB/s |  25 kB     00:00     
Fedora 40 - x86_64 - Test Updates                                                                                                                                                                20 kB/s |  16 kB     00:00     
Dependencies resolved.                                                                                                                                                                                                          
================================================================================================================================================================================================================================
 Package                                                 Architecture                                    Version                                                 Repository                                                Size
================================================================================================================================================================================================================================
Upgrading:
 python3-valkey                                          noarch                                          6.0.2-1.fc40                                            updates-testing                                          534 k

Transaction Summary
================================================================================================================================================================================================================================
Upgrade  1 Package

Total download size: 534 k
Is this ok [y/N]: y
Downloading Packages:
python3-valkey-6.0.2-1.fc40.noarch.rpm                                                                                                                                                          1.1 MB/s | 534 kB     00:00    
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Total                                                                                                                                                                                           547 kB/s | 534 kB     00:00     
Running transaction check
Transaction check succeeded.
Running transaction test
Transaction test succeeded.
Running transaction
  Preparing        :                                                                                                                                                                                                        1/1 
  Upgrading        : python3-valkey-6.0.2-1.fc40.noarch                                                                                                                                                                     1/2 
  Cleanup          : python3-valkey-6.0.0b1-1.fc40.noarch                                                                                                                                                                   2/2 
  Running scriptlet: python3-valkey-6.0.0b1-1.fc40.noarch                                                                                                                                                                   2/2 

Upgraded:
  python3-valkey-6.0.2-1.fc40.noarch                    

Complete!

Usage:

[root@fedora /]# python3
Python 3.12.6 (main, Sep  9 2024, 00:00:00) [GCC 14.2.1 20240801 (Red Hat 14.2.1-1)] on linux
Type "help", "copyright", "credits" or "license" for more information.
>>> import valkey
>>> r = valkey.Valkey(host='localhost', port=6379, db=0)
>>> r.set('foo', 'bar')
True
>>> r.get('foo')
b'bar'
>>> r = valkey.Valkey(host='localhost', port=6379, db=0, protocol=3)
>>> pool = valkey.ConnectionPool(host='localhost', port=6379, db=0)
>>> r = valkey.Valkey(connection_pool=pool)
>>> pipe = r.pipeline()
>>> pipe.set('foo', 5)
<valkey.client.Pipeline(<valkey.connection.ConnectionPool(<valkey.connection.Connection(host=localhost,port=6379,db=0)>)>)>
>>> pipe.set('bar', 18.5)
<valkey.client.Pipeline(<valkey.connection.ConnectionPool(<valkey.connection.Connection(host=localhost,port=6379,db=0)>)>)>
>>> pipe.set('blee', "hello world!")
<valkey.client.Pipeline(<valkey.connection.ConnectionPool(<valkey.connection.Connection(host=localhost,port=6379,db=0)>)>)>
>>> pipe.execute()
[True, True, True]
>>> 
>>> p = r.pubsub()
>>> p.subscribe('my-first-channel', 'my-second-channel')
>>> p.get_message()
{'type': 'subscribe', 'pattern': None, 'channel': b'my-first-channel', 'data': 1}
>>>