If you are specifically looking for what was included in this version, it introduced several improvements and bug fixes:
Use iCloud or a computer to back up your data before starting. Navigate to Settings: Open the Settings app on your Find Software Update: Go to General > Software Update .
Addressed issues like Dolby Atmos audio stopping unexpectedly and battery service messages disappearing on certain models. Important Note on iOS 14.7.1 iOS 14.7.1 RELEASED | Why You NEED To Update NOW! Download iOS 14.7 for iPhone SE
The standard way to get the latest available software for your specific hardware is through the official Apple Update process :
If an update is available, tap Download and Install . Key Features of iOS 14.7 If you are specifically looking for what was
Added the ability to manage timers on HomePod from the Home app.
New options to see followed shows versus all shows in the library. Important Note on iOS 14
(1st, 2nd, or 3rd generation), you likely cannot roll back to or specifically "target" 14.7 if your device is already on a newer version. However, if your