Your battery health declines from usage, not updates. Updates may rather re-calibrate the battery health in which you can see a sudden decline. This doesn't change your battery's physical capacity, but rather just the measurement. Battery health also isn't linear and you can lose a few percent suddenly. Your iPhone also nearing the end of its life can decline faster as it needs to be charged more often and use more power. All these are normal.
But the real point is that your iPhone's battery is significantly degraded and needs a replacement at 80%, which you are now overdue for. Make a reservation at your nearest Apple Store Genius Bar or Apple Authorized Service Provider to schedule the battery replacement.
iPhone Battery Replacement - Apple Support