Live Location is not accurate After an lates update.

Sometimes, a simple restart can resolve temporary software glitches. Turn off your iPhone, wait for a few seconds, and then turn it back on.

1. Restart the device. That's it.
2. Still not solved --> Force restart iPhone - Apple Support

Settings > General > Transfer or Reset iPhone > Reset > Reset Network Settings: Only network settings are removed.

• When you reset network settings, previously used networks and VPN settings that weren’t installed by a configuration profile or mobile device management (MDM) are removed. Wi-Fi is turned off and then back on, disconnecting you from any network you’re on. The Wi-Fi and Ask to Join Networks settings remain turned on.
• To remove VPN settings installed by a configuration profile, go to Settings > General > Profiles & Device Management, select the configuration profile, then tap Remove Profile. This also removes other settings and accounts provided by the profile. See Install or remove configuration profiles on iPhone in this guide.
• To remove network settings installed by MDM, go to Settings > General > Profiles & Device Management, select the management, then tap Remove Management. This also removes other settings and certificates provided by MDM. See “Mobile device management (MDM)” in the iOS Deployment Reference.
• Reset your Network Settings. Tap Settings > General > Reset > Reset Network Settings. This also resets Wi-Fi networks and passwords, cellular settings, and VPN and APN settings that you've used before.

If the above fails...

Settings > General > Transfer or Reset iPhone > Reset > Reset All Settings: All settings—including network settings, the keyboard dictionary, the Home screen layout, location settings, privacy settings, and Apple Pay cards—are removed or reset to their defaults. No data or media are deleted.

1. Reset All Settings: Return iPhone settings to their defaults - Apple Support:- Return iPhone settings to their defaults
2. You can return settings to their defaults without erasing your content.
3. If you want to save your settings, back up your iPhone before returning them to their defaults. For example, if you’re trying to solve a problem but returning settings to their defaults doesn’t help, you might want to restore your previous settings from a backup.
4. 

Make sure you have the latest updates installed.

1. Update Over-the-Air (OTA) —> Update your iPhone or iPad - Apple Support (IN)
2. Update using iTunes/Finder —> Update your iPhone, iPad, or iPod touch - Apple Support (IN)

If none of the above steps resolve the issue, it is recommended to reach out to Apple Support or visit an authorized service center for further assistance. They can provide specific guidance based on your device model and iOS version.

If nothing above works probably it could be your iPhone may have a WiFi radio or antenna problem. In that case, take your device to an Apple Retail Store or Apple Authorized Service Provider, or contact Apple Support and get the hardware tested and if needed repaired/replaced.

Find Locations - Location Selector - Apple

Contact Apple for support and service - Apple Support 

Get a Genius Bar Reservation and Apple Support Options - Apple

Contact Genius Bar. Manage Reservations - My Reservations - Apple

If your iPhone is managed/administered by an Organisation / Corporate/enterprise and if they have installed Device Management Profile then these links will help you.

If your iPhone is individually owned and you have installed an app which prompted you to install a profile then these may help you.

Otherwise, these will be for academic purposes only

Get started with a supervised iPhone, iPad, or iPod touch - Apple ...

Install a configuration profile on your iPhone or iPad - Apple Support

Is this your corporate iPhone? Do you have any profile installed by your corporate / organisation/enterprise / School Management then please contact the system administrator of your corporate / organisation/enterprise / School Management.

If you have installed any profile on your own --> Install or remove configuration profiles on iPhone - Apple ...

If you want to turn on SSL trust for that certificate, go to Settings > General > About > Certificate Trust Settings. Under "Enable full trust for root certificates," turn on trust for the certificate. Apple recommends deploying certificates via Apple Configurator or Mobile Device Management (MDM).

Trust manually installed certificate profiles in iOS and iPadOS ...

Get a Genius Bar Reservation and Apple Support Options - Apple

When you encounter issues with your Apple devices, the Genius Bar at Apple Retail Stores is the go-to place for expert assistance. The Genius Bar is staffed by knowledgeable Apple employees, often referred to as "Geniuses," who can diagnose and resolve a wide range of hardware and software-related problems. To ensure personalized attention and a convenient visit, Apple provides the option to schedule a Genius Bar Reservation.

Contact Genius Bar.

Manage Reservations - My Reservations - Apple

Take your device to an Apple Retail Store or Apple Authorized Service Provider, or contact Apple Support:

1. If you prefer face-to-face assistance, you can visit an Apple Retail Store. Apple Retail Stores are designed to provide a hands-on experience with Apple products and offer support services. You can speak with Apple specialists, known as "Creative Pros" in some locations, who can assist you with product-related inquiries or minor troubleshooting.
2. In addition to Apple Retail Stores, there are Apple Authorized Service Providers (AASPs) that are authorized to perform repairs on Apple products. AASPs are independent businesses certified by Apple to offer service and repairs for various Apple devices.
3. If visiting a physical location is not possible or convenient, you can seek support by contacting Apple Support. Apple offers various channels for support, including phone support, live chat, and email. The official Apple Support website provides information on how to reach out to Apple for assistance.

Finally, you can also start a repair log or track the status of existing repair --> Apple Repair and Repair Status Check - Official Apple Support

In summary, Apple provides customers with a range of support options, including the Genius Bar Reservation system, visits to Apple Retail Stores or Authorized Service Providers, and various channels to contact Apple Support for assistance with their products. These services aim to ensure that Apple users receive the necessary help and support whenever they encounter issues with their devices.

You may have disabled it in Screen Time Restrictions. See the pic below

It's not always the iOS update's fault!  Many things can cause phone problems.  If you tell people you think it's an iOS update, it might make it harder to fix or find a solution for the real issue.

Remember, the right question often leads to the solution!

iOS updates aim to enhance user experience, boost security, and fix bugs rather than disrupt core features. The majority of the issues after updates might stem from underlying, unmentioned factors. Updates won't typically alter personal data but may refine settings or features. Backup before major updates for safety. Review Apple's update details and backup advice for a smooth process.

Kindly consider checking your settings and addressing any device issues before attributing the issue to external factors. This could be a pure coincidence that the iOS update affected the iPhone functions.

Before initiating a standard iOS update, it's advisable to create a backup. Have you completed this step? If yes, proceed with the restoration from the backup.

See what each update does: About iOS 18 Updates, About iOS 17 Updates, About iOS 16 Updates, About iOS 15 Updates, About iOS 14 Updates, About iOS 13 Updates, About iOS 12 Updates, and so on...