Looks like you can configure the chip for I2S by only wiring certain pins to 3.3V or GND. The datasheet calls this "parallel mode". That use of the word "parallel" seems a little unusual, but it ultimately means you can configure the chip by only wiring certain pins high or low.
P/S (pin 9) needs to be GND for parallel control mode.
In parallel mode, only 2 formats are available, shown in Table 8 on page 10. Connect DIF0 (pin 8) to logic high to configure for I2S mode.
To specifically answer your original question:
The data sheet says pin8 (DIF0) should be high, also DIF1. But there is no DIF1 pin. So I guess the mode has to be set via MCU.
I believe you're looking at Table 7 which applies only if you configured the chip for serial control mode, by wiring P/S (pin 9) to logic high. But that is not necessary. You can use the much simpler parallel config mode by wiring P/S (pin 9) to GND. Then Table 7 does not apply. Table 8 is your configuration options if P/S is connected to GND.
At least while experimenting, I would wire SMUTE (pin 6) to GND to disable the mute feature.
ACKS (pin 7) isn't as clear, at least from my quick reading of the datasheet. My guess is it should be low to disable auto mode, because the specific clock settings Teensy uses are shown in Table 2: Fs = 44.1 kHz, MCLK = Fs * 256, BCLK = Fs * 64. My gut feeling is auto mode (ACKS wired to logic high) will probably also work but with lower sound quality, probably causing the filters inside the chip to destroy some of the higher frequency content.
The only pin you might need to connect to Teensy, other than the I2S data and 3 I2S clocks, is PDN (pin 5). It says "When at “L”, the AK4384 is in the power-down mode and is held in reset. The AK4384 should always be reset upon power-up." You might need to use pinMode() and digitalWrite() to drive this low when your program starts, and then after a delay drive it high. Maybe? It's not clear to me from the datasheet if this chip is capable of starting up properly on its own. Many older chips can't.
But it really looks like this chip should be able to work with Teensy's I2S output if you just wire P/S (pin 9) to GND, and connect DIF0 high. When reading the datasheet, ignore all the tables which apply to the more complex serial mode.