Being "deprecated" isn't a feature on the site. Rather, it means that we've made the case to remove its existence on the site and we are actively working to remove that tag.
That said, there's currently no way to mark a tag as "don't use this" and have the system enforce it.
The only way to truly deprecate the tag is to remove it from all the questions that it's on, and then the reputation requirements for creating a new tag will kick in, which should stem the creation of the new tag, or at least slow down how often it comes in.
If it proves to be a persistent issue, then it could be blacklisted, meaning it will never be able to get used. In this case, given how many questions with this tag that exist and the effort it will take to clean them up, I'd assume (and argue for) it would be blacklisted. It should never come back once it's gone.