Re: "How to record using time lapse or other features like Panoramic photos on latest software"
Apple Support's online article (link below) has info. on timelapse video, as well as other video options
There's also info., on choosing the format and the frame-rate to suit your preferences.
Eg: "Change video recording formats
Depending on your iPhone model, you can record video in high-quality formats, like HD, 4K, HD (PAL), and 4K (PAL). Also depending on your model, you can change the fps rates to 24, 25, 30, 60, or 120.
(More info. in the article if needed)
Record a video with your iPhone camera - Apple Support
Eg: says:
"Record a time-lapse video
Capture footage at selected intervals to create a time‑lapse video of an experience over a period of time—such as a setting sun or traffic flowing.
- Open Camera
on your iPhone. - Select Time-lapse mode.
- Position your iPhone to frame your subject, then place it on a stable surface or tripod.
- Tap the Record button or click the Camera Control (on supported models) to start and stop recording.
Tip: On iPhone 12 or later, use a tripod to capture time-lapse videos with more detail and brightness when recording in low-light situations."
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Re: ... "other features like Panoramic photos on latest software"
See this linked article below from Apple support for "how to" info/
Take panoramic photos with your iPhone camera - Apple Support