I’m having the same problem but almost worse.
Wifi is unusable on my iPhone 12 mini except when I’m actually on a call (phone, WhatsApp or Voice) and then if my wifi is off, nobody can hear me and I can’t hear them. In this circumstance turning my wifi back on helps.
But if I’m trying to browse websites, forget about it. Nothing loads with wifi.
My iPad Pro is doing just fine on 14.8, returning 52 Mbps on a VPN connection, so there is no excuse.
Yes, I turned VPN off, restarted my phone, and reset all network settings. Nothing is helping.