Does iPhone 7 support lossless

All kind of details to be found in this document:About lossless audio in Apple Music --> https://support.apple.com/HT212183

Apple Music‌ can be listened to on iPhone or iPad updated to iOS or iPadOS 14.6 or later, updated to macOS 11.4 or later, Apple TV 4K with tvOS 14.6 or later, Android.

So yes, if the iPhone 7 is is up to date for iOS. Click on a link below for full instructions about how to update with wi-fi or 5G, or using a computer if you have storage or connectivity issues.

"Update your iPhone, iPad, or iPod touch" click here --> https://support.apple.com/HT204204

Or this video:

"How to update your iPhone or iPad" click here --> https://youtu.be/csJAEyvvruY