In general, ATT requires app developers to explicitly obtain user’s permission before tracking their activities and share the information with data brokers. Through iOS 14.5, users are also able to keep track of apps that have asked for such permission and make changes whenever they see fit by going to Settings > Privacy > Tracking.
In addition to that, the new update also adds support for the newly launched AirTag tracker for the Find My app on iPhone as well as the ability to utilise Sony PlayStation 5 DualSense, Xbox Series X, and Xbox Series S controllers. It also brings plenty of new features for Emojis, Siri, Maps, Reminders, Translate, Apple Music, and Apple Podcasts. With the new update, Apple Watch owners can also now unlock their iPhone when they have tried using Face ID with a face mask on. Available for iPhone X and newer, this feature requires Apple Watch Series 3 and above applicable with watchOS 7.4 that has just been rolled out today.
There is a long list of security updates within iOS 14.5 as well which is another good reason to obtain it for your iPhone. To download it, you can start by triggering the update process through Settings > General > Software Update. (Source: Apple [1][2].)
