Analog is still used to master and press LP's. I thought it was
ALL digital till I started researching it and discovered a number of facilities that do the remastering and pressing onsite, completely in analog. Here is one in particular:
I just bought their Jimi Hendrix Are You Experienced from there. The entire interview is a bit long winded but there are some revelations to be had about the process vs consumer perception.
Other facilities take the analog data and once fully ready to press, will indeed dump it to 24 bit 192khz audio formats or even greater. Either way, the LP will have been made with a greater quality source than the CD is capable of playing back. The quality of the final vinyl album is still subject to foul play in the process though.