Apple menu -> About This Mac tells you what system you are running.
If you are running Mac OS 10.15 Catalina, most of that software which is compatible with it is also 11.0 Big Sur compatible.
If you aren't running Catalina, you have to be wary as a lot of software is programmed in older 32 bit coding, which is not compatible with either Big Sur or Catalina.
Note 10.15.7 is a variety of Catalina not too different from 10.15, just as 11.0.1 is a variety of Big Sur not too different from 11.0.
https://roaringapps.com/ is a great website to research what is compatible with each operating system.
Backup your data before installing anything new.
New M1 Macs that shipped in 2020 add another compatibility hurdle as Apple has moved away from Intel CPUs. If you are planning on getting a new machine, be aware of that.