Since WeBWorK 2.19, dvisvgm has been the default tool for building svg from latex image code. For a few versions prior to this, it was pdf2svg only because there was a brief window of time where there was a bug with dvisvgm. But dvisvgm is much better and pdf2svg has not been maintained for a long time now. On certain OSs, I found it impossible to even install.
So if you are installing WeBWorK 2.19 now, you do not need pdf2svg at all. Just check that your latex installation has dvisvgm.
ImageMagick is only currently used for creating png image files from latex image code. By default, that will not be used with regular use of a WeBWorK server. It will be used if the server supports some PreTeXt project. And it would be used if a problem file specifically indicated that png images should be built (instead of svg).