There are, of course, always new iOS 14 betas provided shortly after the software sees a public release, but that the numbering is iOS 14.2 instead of iOS 14.1 is unusual.
Not that unusual.
Apple has some feature in mind (most likely iPhone 12 support) for this release of Xcode, and are using the release as a basis for doing integration of features. However, they may need to have a release between now and when that feature batch ships - so they left a numerical gap for it.
Most likely, they _already_ have an iOS 14.1, etc for issues they determined through final qualification that they decided weren't critical enough to delay iOS 14's initial public release.
Apple does sometimes skip numbers with iOS releases, especially as of late when SDK changes are required, but it’s possible that the iOS 14.1 update will be reserved for the new iPhone 12 models that are not yet out, while iOS 14.2 will be a wider device release. Of course, iOS 14.2 and iPadOS 14.2 could also be for the new iPhones and the new iPad Air.
Most likely the iPad Air will either already have features integrated in (since it is now publicly known) or will have changes in a software version closer to its release next month.