I don’t see iOS update option on my iPhone

The iPhone 7 is capable of upgrading to iOS 15.

If you cannot see the function on your phone, try and update via a pc or Mac

On a Mac with macOS Catalina or later, you will follow the following steps:

1. Open a finder window
2. Connect your device to your Mac via a lighting to usb A or a lightning to usb c cable
3. Select your device in the left sidebar of the finder window
4. click general, then click check for update
5. Click download and update.
6. If asked, enter your iPhone pascode

On macOS Mojave or earlier, or on a windows machine, we won't use the Finder to upgrade your iOS

Instead, we will use iTunes. Make sure to Back up your device before doing any update or upgrade to your phone.

1. Open iTunes
2. connect your device to the computer with an lightning to usb a or a lightning to usb c cable
3. Click device button in the iTunes toolbar
4. In the summary tab, click check for update
5. Click download and update, follow The on screen instructions
6. If asked, enter your iPhone passcode.

See this link for further reference

Updating/upgrading your iPhone - Apple Community

Have you checked Settings/General/Software Update?

See the articles below.

Update your iOS device.  -

Get help with over-the-air iOS updates  -

Update – Can’t or can’t restore   -

Have you tried using iTunes on a computer or Finder if running Catalina or later to do the update?

Update software on iOS devices in iTunes on Mac. -

Phone, iPad, or iPod touch - Update with Finder.  *

iPhone, iPad, or iPod touch - Update with iTunes.  *

If you see an error when you update or restore your iPhone, iPad, or iPod    *

Updating iOS: common issues and solutions.  -

ASC YouTube for  how to update your iPhone, iPad, or iPod touch to the latest version of iOS or iPadOS —wirelessly or using your computer.