How is Lufthansa currently handling refund requests due to schedule changes?

I originally booked a flight for SEA-MUC-CDG (in P if that matters), departing SEA at 18:45. Since SEA-MUC got cancelled, I’ve been rebooked onto SEA-FRA-CDG, departing at 13:50, nearly 5 hours earlier. Is that enough of a schedule change to demand a refund? Or am I best off waiting for longer to see if SEA-FRA will get cancelled also?

Not particularly interested in a voucher, as it would likely expire before I could use it (July 2021).