Like I mentioned in the question, a major problem with EdXposed is lack of documentation. There is an [OFFICIAL] EdXposed - The successor of Xposed [Oreo/Pie/Q/R, 2020/07/19] thread opened by Mlgmxyysd, one of EdXposed main developers but, sadly doesn't provide any useful information.

EdXposed canary version supports Android 11 for the last couple of months. With the latest canary version released a couple of days ago, major bugs have been fixed and I consider it usable and hence this post.

Information is valid as of writing. Things will change and if you want to improve the answer by editing or posting a new answer, please do.

This is NOT a support thread. I am not frequenting SE,and therefore cannot answer your questions.

Pre-requisites (need to be updated from sources or as prompted by EdXPosed manager).

• Magisk v21 + , with Magisk Manager from official Magisk thread. Note that some devices play well with certain versions of Magisk so it's better to search device threads in XDA for appropriate Magisk version for your device.

• Riru-core latest release from Magisk modules or from GitHub. I am still on Riru V21.3 .The latest version has major compatibiity issues with framework and other Magisk modules , even on older Android versions.

• EdXposed canary drivers YAHFA/Sandhook from EdXposed manager v4.5.7. And the EdXposed manager

Installation

This being a canary version, installation is unconventional

• Obviously you have a rooted device running Android 11, with Magisk installed.

• Install EdXposed Manager v4.5.7.

• From the canary tab download the YAHFA/ Sandhook drivers (zip) . Note that downloaded version may have a different name from the file name in canary tab, in my case EdXposed-YAHFA-v0.5.0.6-android_r (4565) release.zip (note that it is marked as release for Android R, so one can soon expect official support)

• Install Riru-core module first from Magisk Repo. Don't reboot.

• Install downloaded YAHFA or Sandhook using install from storage option of Magisk.

• Reboot and profit!

YAHFA or Sandhook drivers?.

YAHFA is relatively slower but stable by most accounts compared to Sandhook. You would need to check XDA for what works best for your device/Android version. For me, it has been YAHFA on my earlier and current device. In addition, you may be better off installing YAHFA , if root detection is a concern. As Mlgmxyysd says in her tweet

SandHook has faster boot speed, but leaves pre-compiled files in the cache, which can be detected by some apps

Modules

• Xposed module development isn't what it used to be so there are only a few Android 11 ready Xposed modules. The ones I care for are:

  • XPrivacy Lua. This works but not fully. Hoping for Marcel to resume support for Android 11.

  • Gravity Box for 11- awaiting development

  • 3C All in one toolbox. Supported

  • Xposed Edge Pro. I didn't test it extensively, but whatever I need works.

• If you reading this, it's likely you may be tempted to try other modules too. If they work, please update here. But if they don't work and create freezes, reboots , system lags (pretty common symptoms), you need to disable those modules without a nuclear factory-reset. Earlier, one needed other modules or getting into custom recovery to get rid of the offending modules. Thankfully, it's become easier since Magisk V21.0(see changelog). Now, it's as simple as getting into safe-mode and rebooting! Magisk FAQ says

Q: I installed a module and it bootlooped my device. Help!

If you have USB debugging enabled in developer options, connect your phone to the PC. If your device is detected (check by adb devices), enter ADB shell and run the command magisk --remove-modules. This will remove all your modules and automatically reboot the device.

If unfortunately you do not have USB debugging enabled, reboot into Safe Mode. Most modern Android devices support pressing a special key combo at boot to enter Safe Mode as an emergency option. Magisk will detect Safe Mode being activated, and all modules will be disabled. Then reboot back to normal mode (the module disable state persists) and manage your modules through Magisk Manager.

Why shouldn't I use Taichi or VirtualXPosed instead of Edxposed? They work better

Not recommended

• Taichi is closed source. If you are comfortable with that , go ahead.

• VirtualXposed recently became opensource but isn't safe per Fif_ on XDA, who contributes a lot of hooks to XprivacyLua

VirtualXposed has all the apps running under its supervision share the same android uid, defeating most Android sandboxing guarantees. In short, it's considered very insecure, by orders of magnitude more than the regular Xposed/EdXposed.

Does it pass Safety Net?

tl:dr; Very unlikely, be ready to forego passing safety net

• For starters, even unlocking bootloader trips safety net on Pixel 4a, as reported and checked by me on my device . Unlocking bootloader also renders device uncertified. Thankfully apps can be downloaded. Workarounds exist for this problem but one isn't sure how long it would work.

• My other device OnePlus7 on Android 10, used to pass safety net but not anymore.

• If you do overcome this first hurdle (may be older device), you have the next problem - how is Google checking? Is it Basic integrity check or Hardware attestation? ( For details see my answer here Magisk will fail Safety-Net hereafter. Why?). If you are lucky enough to have basic check , you may pass (not always, my OnePlus 7 has basic check and still fails, despite flashing full factory ROM and no changes made to /system, never even mounted it rw)

• Third obstacle is whether EdXposed Framework or installed modules trip safety net? Results awaited from those who cross the first two obstacles. I am yet to come across anybody who has reported safety net pass on Android 11 with Edxposed installed.

As always, happy Xposing :)