Can I delete iPhone Software Updates folder?

They may be in a subfolder called iPhone Software Updates or iPad Software Updates or iPod Software Updates. Essentially, any device you have running iOS may have a . ipsw file floating around. You can delete them safely.

Can I remove the iOS 14 update?

In order to uninstall iOS 14 or iPadOS 14, you’ll have to completely wipe and restore your device. If you’re using a Windows computer, you need to have iTunes installed and updated to the latest version.