With the launching of the iOS 15 and iPadOS 15 set next month, Apple, nonetheless, seems to be working on the iOS 14.8 for release.
Spotted by Twitter user Brendan Shanks, the latest Xcode 13 lists the iOS 14.8 as an available or soon-to-be-available operating system version. We're still unclear about what will be featured in the iOS 14.8 update.
However, it is worth noting that Apple has never released an eighth update for the iOS operating system with the iOS 11 stopping at iOS 11.4, iOS 12 stopping at iOS 12.5, and even the iOS 13 stopping at iOS 13.7. Also, Apple typically stops working on prior iOS updates when new iOS versions will launch in the late summer or fall.