This is more of a science question than a history question, but a lot of it depends on what period you consider the "time of the Pharaohs". The wet period you're talking about is known as the "neolithic subpluvial", and ended very close to the time that the Early Dynastic Period was starting. The Old Kingdom didn't start for another thousand years. So, from the start of the Old Kingdom to current time, Egypt has been dry.

I have read papers discussing the theory that the rise of higher density human civilization in the region, and the associated increase in farming, may have actually triggered the end of the Neolithic Subpluvial period, but I think you'd probably have to ask in a science subreddit, because that's more of a climatology question than a history question. The interesting historical question, IMO, is what the influence of the drying was on the rise of the dynastic period that lead to the Old Kingdom.