finally replaced my long ignored defunct iPhone with a fancy 15 pro max that gets updates - fancy - I’ve yet to lose connection fully but it will quite frequently be a poor connection and drop a lot of what’s playing and occasionally fully disconnecting but I have been able to reconnect after.
This is what Apple support had me do and it kinda seemed to help for a brief moment at least. Perhaps you might have better luck than I did.
”Tap Settings > General > Transfer or Reset [Device] > Reset > Reset Network Settings. Then test to see if the issue is resolved.”
fyi it will erase all your past remembered Bluetooth devices and your WiFi connections, cellular settings etc etc Clean slate to factory settings (your phone data is unaffected)- he didn’t mention it to me but I guess it’s a bit obvious and just had to try to remember my old passwords is all basically- these guys go deep into detail about the process….https://www.howtogeek.com/270185/how-to-reset-your-ios-devices-network-settings-and-fix-connection-issues/
i think it’s gotta be a software issue and have my fingers crossed for an update soon…
cheers and good luck