That has already happened in some places, though blacklist/whitelist are still the most common naming convention for that sort of thing.
Blocklist is actually a better name IMO, and I've seen it used in places, and an easy enough change. I don't have any examples I remember of what people might use instead of whitelist though, allowlist doesn't particularly trip of the tongue IMO.
Grandfathering is another common word that I've seen argued against because of its history.
You should try to avoid using "Blocklist" in most code IMO, it's ambiguous in a number of contexts as the word block itself is ambiguous and can mean very multiple different things such as blockchain blocks or data/filesystem blocks which would be something very different from the intended definition of a disallow rule.
But you have a point, block is unhelpfully overloaded on the English language.
IMHO it's definitely not. What I do with my blacklist might have nothing to do with blocking anything.
What about "yeslist" and "nolist"? "Includelist" and "excludelist"?