When people call and ask for transcripts, report cards, etc., the secretaries often do not know which account is on hold. A report for that information would be helpful for certain personnel.
This is supported with the Holds functionality released June/July 2021. Users can either see the hold directly on the student record, or can be given view only rights to the Manage Holds list via a clone of a Holds Manager role.
Does this option work for you? --> Hold List (Academics>Grades>Grades Management> Manage Holds tab)