Apple has released the latest version of iOS 14, the current generation of the software that powers iPhones. A corresponding update for iPadOS is available as well. The main fix is for a bug with Apple's Unlock with iPhone feature for the Apple Watch.
"iOS 14.7.1 fixes an issue where iPhone models with Touch ID cannot unlock a paired Apple Watch using the Unlock with iPhone feature," Apple's description of the update reads. "This update also provides important security updates and is recommended for all users."
According to Apple's notes on the security content of the 14.7.1 update, the release addresses a memory corruption issue with improved memory handling, and it addresses a potential exploit regarding kernel privileges.
Apple's latest iOS 14 update arrives just one week after the release of iOS 14.7, which delivered support for MagSafe accessories and better support for managing timers on the Apple HomePod and HomePod Mini. To download and install the update, on your iPhone or iPad, go to Settings > General > Software Update.