iOS 14 jailbreak was demoed by the Pangu jailbreak team in MOSEC 2020.
We heard this greatest news from a twitter post that was shared by security researcher SparkZheng. They shared an image shows an iPhone 11 Pro running iOS 14 and achieved root access on it.
However, do not go hipe with this news as it was a demoed explanation by the clever Pangu team. Also never forget iOS 14 is in the early beta stage itself. For now (when this is writing) Apple released iOS 14 public beta 3.
Moreover, the Pangu Team hasn' t released this achievement to the public jailbreak community. And also we did not hear of a jailbreak upgrade release after their greatest iOS 9 jailbreak with Pangu. There after the clever Pangu team announced root access achievements, exploit runs but we all know they were not published even if they found it.
The Pangu team achieved their greatest jailbreak on iOS 7.1.X to iOS 9.3.3 versions. Most of the developers in the team of Pangu were from top security companies and all of them are talented security researchers and developers. Not only that they are participants of knowledge sharing international security conferences (Blackhat, XCon, Syscan, CanSecWest, Ruxcon, POC, MoSec, USENIX Security, IEEE Symposium on Security and Privacy, NDSS, etc) So this amazing demoed on iOS 14 also from the MoSec security conference.
We cannot hope that the Pangu team will release a jailbreak for iOS 14 as soon as the public release of it. But we can have hopes with the Checkra1n jailbreak team as it was a Checkm8 bootrom exploit containing hardware jailbreak which cannot be patched by a software update. Just the dev team of Checkra1n needs to do an update on Checkra1n jailbreak for iOS 14.
You will be interested in the latest jailbreak possibilities for iOS 14.