Just to manage expectations: Apple often tends to not document such details. And of course they are free to change such implementation details across OS releases or under different operating conditions. The public API gives an app what it needs at the moment: each location result has an associated accuracy, and your app can measure their rate.
If your app can’t function properly with insufficiently accurate or insufficiently frequent updates, then it’s best to degrade gracefully at run time based on the actual behavior, rather than trying to “pre flight” it based on assumptions made during development.
I am hoping that the newest iPhones can provide a faster update rate.
And who knows, maybe the next iPhone will trade off for power efficiency and give you a slower update rate. (Back to managing expectations.)