Following the release of iOS 14.2 last week, Apple has stopped signing iOS 14.1. This means that it is no longer possible to downgrade your iPhone or iPad running iOS 14.2 or iPadOS 14.2 to iOS 14.1.
iOS 14.2 adds a number of usability features and improvements and it is a pretty major update. However, in the jailbreak community, it is generally recommended that anyone interested in jailbreaking their iPhone stays on the oldest possible iOS firmware available. Right now, there’s no iOS 14 – iOS 14.2 jailbreak tool for newer iPhones, so downgrading your iPhone to iOS 14.1 did not really make much sense.
As of now, Checkra1n jailbreak is the only tool that supports iOS 14 – iOS 14.2 jailbreak, though it only supports a handful of devices.
Apple usually waits around a couple of weeks before it stopped signing an older version of iOS. However, it looks like the company has changed its timing a bit as it is now stopping signing old firmware within a week of a new release of iOS.
If you have not already updated your iPhone to iOS 14.2, you definitely should as apart from some new features and changes, it also squashes a number of bugs. You can find out everything that’s new in iOS 14.2 and iPadOS 14.2 here.