The Minchas Shai on Shoftim 17:3 quotes the Gemara (Shevuos 35a) and Maseches Sofrim (4:6) regarding if the names יהוה and אלהים in the story of Micha's idol are holy or not. The Tanna Kama says that none of them are, while R' Eliezer (Gemara) or Rabbi Yosi (Sofrim) says that יהוה is, אלהים is not with one exception. The Minchas Shai points out that Yonasan ben Uziel, who was also a Tanna, doesn't exactly follow either of those opinions and treats more instances of אלהים as holy.
The Rambam follows the Tanna Kama that all of the names are not holy. The Radak, followed by the Minchas Shai, doesn't exactly disagree, but says it's better to be strict like R' Yosi and not erase those names. (The Minchas Shai also adds that כל ימי היות בית אלהים בשילה, which R' Yosi brings as an exception, is holy according to everyone.)
How should you pronounce יהוה when reading these verses?
- אדני, like we do in most places? That seems very strange if it's not holy.
- אדנַי, with a patach, which is apparently the chol version of אדנָי?
- אלהים, like we do where it's next to אדני?
- As it's written? If so, with what nekudos? This seems to be the simplest answer, because there's seemingly no reason to change the pronunciation out of respect, but I've never heard anything like it before. If anything, I've heard not to say Jehovah's Witnesses when referring to the Christian group, which would seem to be an analagous case.