After the release of iOS 14.7.1 last week, Apple stopped signing iOS 14.7, the previously available version of iOS that was released earlier in July. With iOS 14.7 no longer signed, it is not possible to revert to iOS 14.7 if you have already installed iOS 14.7.1.
Apple consistently stops signing old versions of software updates after new versions are released to encourage customers to keep their operating systems up to date.
iOS 14.7 added MagSafe battery support and fixed several bugs. iOS 14.7.1 included a critical security fix for a bug that may have been actively exploited in the wild, and it fixed an issue that could prevent Touch ID phones from unlocking a connected Apple Watch.
Since iOS 14.7.1 includes an important bug fix, it’s important that all iOS users upgrade as soon as possible if they haven’t already.