Same issues here, ever since updating to iOS/tvOS 14 both my iPhone XS and Apple TV have experienced connectivity issues. Devices will show a full strength connection however, the actual internet connection will almost constantly drop out despite all my other branded electronic devices working perfectly with no issues. Very very poor from a company as big as Apple, needs a fix ASAP. I'm no conspiracy theorist but it's almost as if they've intentionally ruined Wi-Fi capability on older iPhones so users are forced to iPhone 12's and their "5G."