Why I can't update to the latest iOS with an iPhone 12?

Try again -> Go to Settings -> General -> Software Update -> Download and Install.

You need about 6 GB device storage and good Service and/or Wi-Fi.

If they are On, turn Off Hotspot & VPN.

Charge the battery > 70%.

See the following Apple articles:

Update your iPhone, iPad, or iPod touch

Update your iPhone, iPad, or iPod touch - Apple Support (IN)

If your iPhone, iPad or iPod touch won’t update

If your iPhone, iPad, or iPod touch won't update - Apple Support

You can do the update via PC, see this Apple article: Update software on iPhone, iPad or iPod touch in iTunes on PC

Update software on iPhone, iPad or iPod touch in iTunes on PC – Apple Support (UK)

If you have a Mac see this Apple article: Update your iPhone, iPad, or iPod touch with the Finder

Update your iPhone, iPad, or iPod touch with the Finder - Apple Support

What happens when you try?

Can you post a screenshot of the whole screen, it could reveal why you aren't able to update.

Make sure you:

• Are using a WiFi connection (not a hotspot).

• You have an active cell signal (You need both WiFi and cellular service to perform the upgrade).

• Are not using a VPN connection.

• Have your battery charged at least 50%. Better yet, keep it plugged in during the update.

• Do not have power save mode turned on.

• Do not have a beta version installed.

• You have at least 10 gigs of storage available.

Click on this link on what to do if you can't update your phone -

If your iPhone or iPad won't update – Apple Support (UK) If your iPhone or iPad won't update – Apple Support (UK)