Oppo Reno 7, along with the Oppo K10 and A96 are getting the Android 12 stable update. The update comes with new privacy controls and UI improvements and currently rolling out in India where these smartphones were already testing the beta version of ColorOS with Android 12.
New features included with Android 12 include a new permissions panel, one-time, coarse, and exact location permissions, and more security updates.
The update is being sent via OTA for all supported models, so just check if it’s available in Settings > Software Update.