The formula I have for Parodinal (which I've made at least a dozen times between 2005 and 2007) used sodium hydroxide in the form of Red Devil Lye from the supermarket. Potassium hydroxide should work just about the same, buy you need a little more (potassium is heavier than sodium, mole for mole). The difference in pH is negligible, the difference in solubility won't matter in this formula.
It's easy enough to calculate the molecular weights (about 56 for KOH, about 44 for NaOH) for mole-for-mole substitution, which will work in most formulae. I've read that you need KOH specficially for actual Rodinal, but given Parodinal uses easily sourced ingredients and is much simpler to mix, for the same result, I've never tried to make Rodinal.