diff --git a/.changes/unreleased/Fixes-20240806-194843.yaml b/.changes/unreleased/Fixes-20240806-194843.yaml
new file mode 100644
index 00000000000..7eb5a4bd8d8
--- /dev/null
+++ b/.changes/unreleased/Fixes-20240806-194843.yaml
@@ -0,0 +1,6 @@
+kind: Fixes
+body: respect --quiet and --warn-error-options for flag deprecations
+time: 2024-08-06T19:48:43.399453-04:00
+custom:
+  Author: michelleark
+  Issue: "10105"
diff --git a/core/dbt/cli/flags.py b/core/dbt/cli/flags.py
index 4f1bcc2c4df..2b957ed9465 100644
--- a/core/dbt/cli/flags.py
+++ b/core/dbt/cli/flags.py
@@ -15,7 +15,7 @@
 from dbt.cli.types import Command as CliCommand
 from dbt.config.project import read_project_flags
 from dbt.contracts.project import ProjectFlags
-from dbt.deprecations import renamed_env_var
+from dbt.deprecations import fire_buffered_deprecations, renamed_env_var
 from dbt.events import ALL_EVENT_NAMES
 from dbt_common import ui
 from dbt_common.clients import jinja
@@ -355,6 +355,8 @@ def fire_deprecations(self):
         # not get pickled when written to disk as json.
         object.__delattr__(self, "deprecated_env_var_warnings")
 
+        fire_buffered_deprecations()
+
     @classmethod
     def from_dict(cls, command: CliCommand, args_dict: Dict[str, Any]) -> "Flags":
         command_arg_list = command_params(command, args_dict)
diff --git a/core/dbt/config/project.py b/core/dbt/config/project.py
index e1dfac4e10c..313cdb0bddf 100644
--- a/core/dbt/config/project.py
+++ b/core/dbt/config/project.py
@@ -821,8 +821,8 @@ def read_project_flags(project_dir: str, profiles_dir: str) -> ProjectFlags:
 
         if profile_project_flags:
             # This can't use WARN_ERROR or WARN_ERROR_OPTIONS because they're in
-            # the config that we're loading. Uses special "warn" method.
-            deprecations.warn("project-flags-moved")
+            # the config that we're loading. Uses special "buffer" method and fired after flags are initialized in preflight.
+            deprecations.buffer("project-flags-moved")
             project_flags = profile_project_flags
 
         if project_flags is not None:
diff --git a/core/dbt/deprecations.py b/core/dbt/deprecations.py
index 53f95ee1e65..114af126ea0 100644
--- a/core/dbt/deprecations.py
+++ b/core/dbt/deprecations.py
@@ -1,9 +1,9 @@
 import abc
-from typing import ClassVar, Dict, List, Optional, Set
+from typing import Callable, ClassVar, Dict, List, Optional, Set
 
 import dbt.tracking
 from dbt.events import types as core_types
-from dbt_common.events.functions import fire_event, warn_or_error
+from dbt_common.events.functions import warn_or_error
 
 
 class DBTDeprecation:
@@ -107,15 +107,6 @@ class ProjectFlagsMovedDeprecation(DBTDeprecation):
     _name = "project-flags-moved"
     _event = "ProjectFlagsMovedDeprecation"
 
-    def show(self, *args, **kwargs) -> None:
-        if self.name not in active_deprecations:
-            event = self.event(**kwargs)
-            # We can't do warn_or_error because the ProjectFlags
-            # is where that is set up and we're just reading it.
-            fire_event(event)
-            self.track_deprecation_warn()
-            active_deprecations.add(self.name)
-
 
 class PackageMaterializationOverrideDeprecation(DBTDeprecation):
     _name = "package-materialization-override"
@@ -155,6 +146,13 @@ def warn(name, *args, **kwargs):
     deprecations[name].show(*args, **kwargs)
 
 
+def buffer(name: str, *args, **kwargs):
+    def show_callback():
+        deprecations[name].show(*args, **kwargs)
+
+    buffered_deprecations.append(show_callback)
+
+
 # these are globally available
 # since modules are only imported once, active_deprecations is a singleton
 
@@ -178,6 +176,13 @@ def warn(name, *args, **kwargs):
 
 deprecations: Dict[str, DBTDeprecation] = {d.name: d for d in deprecations_list}
 
+buffered_deprecations: List[Callable] = []
+
 
 def reset_deprecations():
     active_deprecations.clear()
+
+
+def fire_buffered_deprecations():
+    [dep_fn() for dep_fn in buffered_deprecations]
+    buffered_deprecations.clear()
diff --git a/tests/functional/deprecations/test_deprecations.py b/tests/functional/deprecations/test_deprecations.py
index 8082be7b911..95779338d8a 100644
--- a/tests/functional/deprecations/test_deprecations.py
+++ b/tests/functional/deprecations/test_deprecations.py
@@ -3,7 +3,8 @@
 
 import dbt_common
 from dbt import deprecations
-from dbt.tests.util import run_dbt, write_file
+from dbt.tests.util import run_dbt, run_dbt_and_capture, write_file
+from dbt_common.exceptions import EventCompilationError
 from tests.functional.deprecations.fixtures import (
     bad_name_yaml,
     models_trivial__model_sql,
@@ -143,6 +144,45 @@ def models(self):
     def test_profile_config_deprecation(self, project):
         deprecations.reset_deprecations()
         assert deprecations.active_deprecations == set()
-        run_dbt(["parse"])
-        expected = {"project-flags-moved"}
-        assert expected == deprecations.active_deprecations
+
+        _, logs = run_dbt_and_capture(["parse"])
+
+        assert (
+            "User config should be moved from the 'config' key in profiles.yml to the 'flags' key in dbt_project.yml."
+            in logs
+        )
+        assert deprecations.active_deprecations == {"project-flags-moved"}
+
+
+class TestProjectFlagsMovedDeprecationQuiet(TestProjectFlagsMovedDeprecation):
+    def test_profile_config_deprecation(self, project):
+        deprecations.reset_deprecations()
+        assert deprecations.active_deprecations == set()
+
+        _, logs = run_dbt_and_capture(["--quiet", "parse"])
+
+        assert (
+            "User config should be moved from the 'config' key in profiles.yml to the 'flags' key in dbt_project.yml."
+            not in logs
+        )
+        assert deprecations.active_deprecations == {"project-flags-moved"}
+
+
+class TestProjectFlagsMovedDeprecationWarnErrorOptions(TestProjectFlagsMovedDeprecation):
+    def test_profile_config_deprecation(self, project):
+        deprecations.reset_deprecations()
+        with pytest.raises(EventCompilationError):
+            run_dbt(["--warn-error-options", "{'include': 'all'}", "parse"])
+
+        with pytest.raises(EventCompilationError):
+            run_dbt(
+                ["--warn-error-options", "{'include': ['ProjectFlagsMovedDeprecation']}", "parse"]
+            )
+
+        _, logs = run_dbt_and_capture(
+            ["--warn-error-options", "{'silence': ['ProjectFlagsMovedDeprecation']}", "parse"]
+        )
+        assert (
+            "User config should be moved from the 'config' key in profiles.yml to the 'flags' key in dbt_project.yml."
+            not in logs
+        )
diff --git a/tests/unit/test_deprecations.py b/tests/unit/test_deprecations.py
new file mode 100644
index 00000000000..3b773cce070
--- /dev/null
+++ b/tests/unit/test_deprecations.py
@@ -0,0 +1,36 @@
+import pytest
+
+import dbt.deprecations as deprecations
+
+
+@pytest.fixture(scope="function")
+def active_deprecations():
+    assert not deprecations.active_deprecations
+
+    yield deprecations.active_deprecations
+
+    deprecations.reset_deprecations()
+
+
+@pytest.fixture(scope="function")
+def buffered_deprecations():
+    assert not deprecations.buffered_deprecations
+
+    yield deprecations.buffered_deprecations
+
+    deprecations.buffered_deprecations.clear()
+
+
+def test_buffer_deprecation(active_deprecations, buffered_deprecations):
+    deprecations.buffer("project-flags-moved")
+
+    assert active_deprecations == set()
+    assert len(buffered_deprecations) == 1
+
+
+def test_fire_buffered_deprecations(active_deprecations, buffered_deprecations):
+    deprecations.buffer("project-flags-moved")
+    deprecations.fire_buffered_deprecations()
+
+    assert active_deprecations == set(["project-flags-moved"])
+    assert len(buffered_deprecations) == 0