The answer to your question is weakly related to the answer to the question below :
“Does there exist an algorithm to detect a (possible) loop that goes to infinity under the finite Collatz iterations ?”
There is no paper currently posted to arXiv.org that answers above question.
If there is a counterexample that leads to the cyclic loop, then there must be an algorithm that reaches the number of iterations in that loop and finds it in finite time, and the Turing machine theoretically halts in finite time - the output is always algorithmically computable.
In short, your question can be reduced to:
If it can be proven that there are no noncyclic counterexamples that go to infinity, the answer to your question is positive — Yes, the decision problem is always algorithmically decidable. Otherwise, the status of the question remains open.
Because no one has proven it to date. Proving the existence of, or even directly constructing, an algorithm to detect a (possible) counterexample that goes to infinity may be as difficult as solving the original Collatz problem.
Consider the generalized Collatz map
$$
T(n) =
\begin{cases}
\dfrac{n}{2}, & \text{if } n \text{ is even}, \\[6pt]
5n + 1, & \text{if } n \text{ is odd}.
\end{cases}
$$
This map grows much faster than the classical $3n+1$ function, and for many starting values it is still unknown whether the corresponding trajectory eventually enters a cycle or diverges to infinity.
A concrete example is the starting value
$$
n = 7.
$$
Computations show that the orbit of $7$ under the $5n+1$ rule becomes extremely large. After several thousand iterations it already exceeds numbers far beyond $10^{1000}$, and no cycle or decrease has been observed. Nevertheless, there is no proof that the sequence
$$
7,\; T(7),\; T^{2}(7),\; T^{3}(7),\;\ldots
$$
either falls into a periodic loop or diverges to infinity. Thus, it remains unknown whether
$$
T^{k}(7) \longrightarrow \infty
$$
or not.
This makes $n = 7$ a standard example of a natural number whose behavior under a Collatz-type iteration is still unknown. More generally, maps of the form
$$
T(n) =
\begin{cases}
\dfrac{n}{2}, & n \text{ even}, \\[6pt]
an + 1, & n \text{ odd},
\end{cases}
\qquad (a > 3)
$$
are known to have dynamics complicated enough to encode arbitrary computations, which explains why proving convergence or divergence for specific initial values is extremely difficult.