I have the exact same problem you and others describe.
On my 5ghz Wifi at home I have trouble with some services with my brand new iPhone 12. I'm on latest iOS 14.3 I can connect to the wifi and most services works fine and stable with max speed: for example browsing, facebook, youtube, mail, spotify, speedtest.net etc.
However the following services just hangs and loads forever (or until a timeout error):
- Backup iPhone to iCloud
- Streaming movies/series from Apple TV+, Netflix, Viaplay, and all other tv streaming apps i have tried.
- Apple Music
If I use an iPhone 8+, XR or 11 also on iOS 14.3 everything works fine on the same network.
If I switch my iPhone 12 to the 2.4ghz network on the same router everything works fine
If I connect to my range extenders 5ghz wifi (cabled access point with different SSID as the main 5GhZ wifi) everything works fine.
If I go to another house and connect to another 5ghz network from the same ISP but they have their ISP provided fiber modem/router in bridge mode and use the Netgear Orbi RBK23 Mesh router, everything works fine.
I have tried all suggested solutions in this thread with no luck. In two occasions I have gotten streaming music and movies to work (but not iCloud backup) by turning off and on "Private Network" for the 5ghz network. It don't last. If I connect to another network, and then back it stops working again.
I have spoken to apple support (senior dept.), but no solution. My case should be escalated in the system by them, and I have reported it myself as well. If everybody experiencing this problem reports the problem here: https://www.apple.com/feedback/iphone.html, we might in the end get focus form apple.
I have also reported the issue to my ISP (Altibox Norway) who has provided my Wifi Router (FMG home central). They where aware of the issues for streaming apps, but not that it affected backups to iCloud. They said they where working on it. I got a new beta firmware update, but it did not solve the problems. Hopefully they find a solution for me and their customers.
In the end I think Apple need to fix something for all their affected iPhone 12 customers. They can't expect us all to buy new routers/ap's when the existing works well for all other devices...
Have anyone else found a reason for this problem or even better a solution?
I am looking for a solution to the problem in the original post in this thread: "some apps/services are not working on 5ghz wifi."
I am not looking for a solution on unstable/slow networks.