Translated by google:
>>Geolocation on iPhone is not updating and displays incorrectly
Hello! I’m having an issue with geolocation on my iPhone: my location isn’t updating and continues to display incorrectly.
At the moment, all my subscriptions have expired, and I have left my Family Sharing group, but the problem persists.
Could you please tell me what might be causing this, and what else I can do to get it working correctly again?
Thanks in advance for your help!<<
Did you check, that no restrictions have been set up on your iPhone?
I guess you have already tried to force restart the iPhone after the latest iOS update?
...
- Press and quickly release the volume up button.
- Press and quickly release the volume down button.
- Press and hold the side button.
- When the Apple logo appears, release the side button.
...

...
copied from: Force restart iPhone - Apple Support
If this does not help, try to erase it and set it up as a new device, to rule out any defective data from the backup:
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- Go to Settings.
- Tap General.
- Tap Transfer or Reset [device].
- Tap Erase All Content and Settings.
- Tap Continue.
- Choose to keep or delete your eSIM. If you erase your eSIM, you need to contact your carrier to reactivate your cellular plan.
- Enter your device passcode.
- Wait for your backup to finish.
- Enter your Apple Account password.
- Tap the done button ✔️ on your keyboard.
- Wait for your device to reset.
- When the process is complete, the Hello screen appears.
...
copied from: How to factory reset your iPhone, iPad, or iPod touch - Apple Support
If Location Services is still not working after that, you should contact the official Apple Support about this, they can diagnose your iPhone online as a first step:
Contact Apple Support - Apple Support