I have the iPhone 12 for 2-3 weeks and having the same problem as everyone else here! Have just trawled through 6 pages, seen one? reply from Apple and have tried a few of the suggestions from other unhappy customers.
My phone is linked to my previous iPhone 7 as I have given that to my kids, I switched off ‘allow calls on other devices’ and that seems to have worked. I have also now changed the mobile data options > voice and data to 4G only as per ppls suggestions that 5G is the problem.
Hopefully this works as it is obviously incredibly frustrating having a phone that is 100% fine to make calls on and not working to receive calls at all, so obviously NOT a cover or speaker problem Apple!
Please note these 6 pages of the same problem and organise a fix to iron out this bug!