This is a very interesting observation indeed. I wonder whether it's because of your Core i7 CPU, because I am also running macOS 10.15.5 Catalina on a 27" 2017 iMac but mine has the the base model Core i5 instead of the upgraded Core i7, and my fan curve and temp curves did definitely not change at all:
View attachment 924677
The default minimum is still 1200, and the maximum is still 2700. However, I have been running my fan at the lowest possible setting of ~940 rpm for a very long time now (using the SMC hack that I found here on these forums a while back) because it's just so much quieter and nicer. I rarely ever see my CPU going above 55°C during normal workload and maybe 70°C tops when I really push it. I have 65°C set as the temperature where fan speed will start to increase from and 90°C as maximum temperature.