Did Apple iOS 14 affect Facebook ads?

The bottom line is: Updates to iOS 14 will lead to less tracking of people on mobile devices.
This will impact targeting, conversion tracking and optimization which makes tracking more difficult but does not have a significant impact on the values returned from the ads.
All of these things may be true, but we just don’t know about the extent to which it is true.

Hence, we are waiting on Facebook/Apple’s next move and the  IOS 14 to go live to see the changes in their final form and on this basis.