I have had some good results addressing the WiFi problem by turning Bluetooth off. This seems to help with the WiFi issue of 14.2 I have no idea why, but it has helped. It doesn't completely fix the problem, but has allowed WiFi to work more often. I just have to remember to turn Bluetooth back on when I use the car.
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I have the very same problem on an iPhone 11 Pro. It was bad on iOS 14, but now on 14.2, WiFi is completely unusable.
I tried the usual suspect:Changed DNS to Google's...
Changed from DHCP to static
Turned off privacy
Soft reset of the phone
Reset router
Reset phone's network settings
Tried the airplane mode trick...
All that's left is a hard reset of the phone, which will take time and probably do nothing, but waste it.
Any other ideas or suggestions? LTE data is expensive if I just give up on WiFi...
-Charley