Apple used to make minor and patch releases available, but they've stopped doing that so as to increase Liquid Glass adoption. For that reason, iOS 18.7.5 is only available for the iPhone XS / XR series released.
They are explicitly choosing to only release security updates for 18.x to devices which are not eligible for liquid glass.
iPhone 14 was deemed capable of running liquid glass, even though it has worse battery life and performs sluggishly.
In the past, Apple has usually let you hold back on an older version and shipped security updates for all devices, not just ones that are incapable of running the new OS, but not this time.
> In the past, Apple has usually let you hold back on an older version and shipped security updates for all devices, not just ones that are incapable of running the new OS, but not this time.
Looks like this is for older devices only. “Available for: iPhone XS, iPhone XS Max, iPhone XR, iPad 7th generation” so doesn’t include iPhone 16… nor is available on my device.
https://support.apple.com/en-us/126347