The deprecation warning is non-blocking warning message and this has been happening from time to time since a few months. If you receiving it once, it will appear for almost all sf commands.

It is linked to an open issue on GitHub [The Salesforce CLI outputs "DeprecationWarning: The punycode module is deprecated." after every sf command][1] 

If you are using Windows and installed SF CLI using windows installer, uninstall it, then reinstall it again with NPM via command `npm install @salesforce/cli -g`

Reinstalling via npm worked for me.

Check the other recommendations on the issue for more details and comment on the issue directly if needed


  [1]: https://github.com/forcedotcom/cli/issues/2535