If I have two updates and update only one (latest)
If I have two updates and update only one (latest) will it automatically just put both into one? Or will it skip one and not add the other one??
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If you're using iOS or iPadOS 14.5 or later, you may now see the option to choose between two software update versions. This option allows you to choose between updating to the latest version of iOS or iPadOS 15 as soon as it's released, or continuing on iOS or iPadOS 14 while still getting important security updates for a period of time.
I presume this is what you are referring to.
If you upgrade to iOS 14.8, you will still have the option to upgrade to iOS 15 in the future, but I would recommend upgrading to the iOS 15 option as this is the latest version of iOS and comes with a wide range of exciting new features.
Update your iPhone, iPad or iPod touch – Apple Support (UK)
If I have misunderstood, or can be of any further help, please let me know!