This is a very interesting debate that I've given a lot of thought about as it does come up in forensics a lot. There is usually a relatively short period in terms of statutes of limitations for civil or criminal action related to sexual abuse/assault. Many states did change their laws to allow for the clock to begin when the plaintiff knew or could have known about the abuse, rather than when it happened, which allowed for these cases to proceed long after the alleged abuse happened. This was one of the factors that allowed for many of the lawsuits against the catholic church and boy scouts to go forward (separately, some states set an additional window for claims to be filed). That was largely a positive thing.
Nowadays, you typically need to have additional supporting evidence to have a successful case. That said, this is America and anyone can sue for basically anything, and the idea is that the courts will hash it out. And of course, the accused alleged abusers can sue the therapists who helped "recover" the abuse etc.
The memory wars were very destructive and they really impacted the credibility of psychology. There were definitely people who were wrongly accused, but some people claimed that proponents of false memories were apologists for pedophilia etc so the reaction to this hysterical epidemic was more hysteria. Memory is of course very unreliable and prone to distortion and frank confabulation. This is more true in suggestible individuals and in certain contexts. The problem is almost all of the research on unreliability of memory is not about traumatic memories and you have people like Elizabeth Loftus (who did very important work on memory but it was not about trauma) who are trotted out by deplorables like Harvey Weinstein and Ghislaine Maxwell to rebut accusers claims of abuse and rape. They did a great profile in the New Yorker of Loftus and presented her as someone who had "repressed" her own childhood.
Rather than repression, "forgetting" childhood trauma may be explained by overgeneral memory, splitting based defenses like dissociation, and a dismissive attachment style. There are other theories, but we aren't talking about conscious suppression, which does occur but isn't relevant to the phenomena of people newly recalling memories of past trauma. Narcissistic patients may also deny a history of sexual abuse only to invoke