On Wednesday, September 16 Apple made iOS 14 for the iPhone, iPad OS14, Watch OS7, and Apple TV OS available to the public. So whether to upgrade is weighing the risks and rewards. There could be some bugs that need updating. Based on personal experience, in my case everything went smoothly. I updated all of my devices.
There are some things to consider before jumping in and going for it. As far as the iPhone and iPad go if it was running iOS13 or iPad OS 13 it can handle the update. Secondly, make sure there is enough space on the device. You may need to do some pruning.
This happened to me on a previous Watch update. I had to do some deleting.
It is smart to do an iCloud backup of your iPhone and iPad before proceeding. You can also do a second backup to your Mac or PC. Things could happen during the download. Give the downloads and install time. The time of day can affect the download duration. The Watch upgrade was slow.
Next month our October 6 Zoom meeting we will look a features in iOS 14 and iPad OS14.