How do you stop phone call recording with iOS 14 on an iPhone 8?

Hi, since I have updated my iPhone 8 to iOS 14 I have noticed that the uppermost right corner of my iPhone (next to battery icon), a small green or yellow indicator light appears. I thought I had been told that it was a new indicator that records phone calls. Is this correct? How do I access the recordings (if that’s what the light indicates)? And is there anyway to access the settings to opt out of recording calls? Any information would be greatly appreciated.

Thank you