However, the release notes for the next iOS update do not mention any battery life or performance tweaks incoming, which indicates that even if there are some, they will be minor improvements. IOS 14.7 update will also fix the Wi-Fi bug that could see iPhones getting into Wi-Fi disabled issues with certain hotspot names.
The term Release Candidate usually signifies that the software is close to final release, and the timing could very well match the arrival of the new MagSafe Battery Pack in stores.
There are bug fixes as well as feature improvements including support for the new MagSafe Battery Pack, timers on HomePod, air quality information for more countries and updates for the Apple Music app as well as Podcasts. This means that unless some as yet undiscovered bug show up, this will largely be the final release that will be released for all iPhone users, in the coming days. The iOS 14.7 update is coming soon for the Apple iPhones and the release candidate version has been seeded to developers.