iPhone 12 Mini not playing any videos, music, and slow to load camera after updating to 14.6

Hello,

I just finished setting up my new iPhone 12 Mini today. Everything seemed to work fine for a few hours until I updated to iOS 14.6, after which I noticed several issues with the phone:

• Videos not playing in social media apps like Twitter and Youtube, as well as in Photos. On Twitter the play triangle symbol appears but when I tap on the video, the video would just freeze on the first frame and a spinning wheel would appear. In Photos, videos similarly freeze on the first frame. As for Youtube even the ads wouldn't play at all.
• Streaming apps like Criterion and Netflix also wouldn't play videos. Netflix shows me a spinning wheel for a few seconds and gives me an error that says "Cannot play title. Please try again later. (AVF:11800;OS:1852797029;)"
• Playing music on Spotify doesn't work, the app would immediately freeze anytime I try to play any song.
• Not sure if related but the Camera app takes much longer to load now, like 10 seconds (I counted).

I have tried:

• Turning the phone off and on again
• Doing a hard reset
• Deleting the apps in question and redownloading them

None of which has solved the issue.

Seeing how it's not just one app that's affected, it's definitely something wrong with the phone itself.

Should I try a factory reset? Or a DFU? Any insight into why this is happening and how I can fix this would be appreciated. Thanks.