Vue 3 has implemented JS proxies for reactivity, but this feature is not compatible with any version of Internet Explorer (refer to the link at the bottom).
A "Compatibility" build that includes the same reactivity system as Vue 2 and is compatible with IE11 was promised previously, and it seems like it may be arriving soon (especially since Microsoft has announced the end of support for IE), although it currently lacks high priority...
The release notes for v3.0.0 One Piece
state:
Migration and IE11 Support: Due to time constraints, we have delayed the migration build (v3 build with v2 compatible behavior + migration warnings) and the IE11 build until Q4 2020. Users looking to migrate an existing v2 app or needing IE11 support should take note of these limitations.
You can consider using some ES6 Proxy polyfills or waiting for the Vue 3 compatibility build...
UPDATE (2021/03/15)
In a recent State of the Vuenion 2021 talk at Vue Amsterdam, Evan You, the founder and main developer of Vue, mentioned that they are reconsidering support for legacy browsers.
You can watch the video yourself, but from my understanding, they recognize the effort required to align the rest of the ecosystem with Vue 3 (Router/Vuex/Dev Tools/DX - dev experience) and are skeptical about whether making Vue 3 compatible with IE11 is worthwhile when Vue 2 already functions well in IE 11 and IE 11 is largely obsolete for most users...
This aligns with their work towards enhancing the @vue/composition-api for Vue 2 and creating guidelines and documentation for library authors to develop Composition API libraries that work in both Vue 2 and 3.
This decision is tentative and will involve public discussion and feedback from the community. If you're interested, there will soon be a new RFC available for feedback in the Vue RFCs repository.
UPDATE (2021/04/08)
The RFC is now posted and open for discussion.
TLDR
There will not be a version of Vue 3 for IE 11. If you need to support IE 11, stick with Vue 2....