nothing to do with meson or older compilers or @rpaths in general. the otool in cctools 949 does not call llvm-objdump-11+ (including -devel) with full args it likes. (llvm-11+ changed their supported args. )
That is why cctools defaults to llvm-10. don't use cctools +llvmdev unless you're prepared to help out with devel issues, I would (and did) tell the user. Just use the defaults and you'll be fine. I will update cctools at an opportune moment, and if they have fixed all the llvm-11+ related issues, we'll default to that. Best, Ken