Unresponsive, Freezing, Lagging, Home Screen iPhone iOS 14.2 (18B92)

Unlocking the phone occasionally freezes, hangs, lags and is generally unresponsive for a period of up to 30 seconds. The issue is not affecting every unlock, but its frequency is enough to be irritating to say the least. Out of 27 pickups today, easily 50% have presented an unresponsive UI.

There is 86GB/128GB storage available, and the issue was first noticed with an iOS 14 beta, suggesting that the issue may be software related.

Others have reported iOS 14 issues elsewhere, anyone else experiencing this or something similar?