If you have an iPhone X-model or a later model like the iPhone 11, 12 or 13 with a notch and FaceID, it'll show on the right side of the notch, near your Wi-Fi or phone signal indicators.
With iOS 15, most of those still exist, including the privacy-focussed addition which you may have noticed: a green or orange dot randomly appearing at the top of your screen. We got widgets and an app library for the first time, but there also came a load of less obvious new features. (Pocket-lint) - When Apple launched iOS 14 in 2020 it came with a host of visual changes.