FYI, my iPhone is currently running iOS 17.7.
When I use Software Update on the iPhone itself, I get a choice between iOS 18.7 and iOS 26. Usually the phone leads with iOS 18.7 with a line at the bottom of the screen telling me that iOS 26 is also available. But not always; sometimes it leads with iOS 26, showing the iOS 18.7 choice only after I press "Back".
I plugged the iPhone into my. Mac to see if computer-based updates behave any differently. They do. At first the Mac told me that my iPhone was up to date. After I asked the Mac to check for an update, it said that iOS 26 was available and offered to install it. There was no mention of iOS 18.7 and no choice to install it. I cancelled out and checked the over-the-air options on the phone again, and found that it was still offering both versions.
So it looks like you only get a choice if you can upgrade over the air. No telling how long that choice will last – if I remember correctly, there were only a few weeks last year during which you could choose between iOS 17 and 18 before the iOS 17 option went away.