If archive.org, or any other web scraper is able to pull personal information from a site, it means that the site is already breaking the GDPR.
GDPR protects personal information, not public texts.
Because instance holds identifying information about EU citizens (email, nickname), it means that the instance owner is the registery holder, and they must comply with GDPR.
I believe email address of the user is not shared between the instances, what makes things quite good. Nicknames are bit more problematical, because they can be considered as personal identifier.
Some GDPR experts maybe should write template registery document that instances can use. And the delete of account should be handled between instances. Posts do not need to be deleted, but nick should be changed to [deleted]
Counter question, what is the use case here?
I have only ever needed this feature with NSFW content. In Lemmy I have easily and better way resolved it by having another account with nsfw instance. This creates even better outcome than the multi community feature. All clients easily support two accounts, and you can switch between them in few presses.