Hi _meeeeeeg,
We understand that you'd like to use spatial audio with your iPhone 7 and AirPods Pro, and you're definitely on the right track by having iOS 14.0.1 installed on your phone. To view the spatial audio settings, you'll want to make sure that your AirPods are connected to your iPhone, and then tap on the "i" next to your AirPods Pro in Settings > Bluetooth > AirPods Pro. We have all the details here:
Listen with spatial audio for AirPods Pro
If you continue to experience problems accessing the settings, please let us know, and we'll gladly assist.
Take care!