9to5Mac published a story that Apple has released iOS 14.5 beta 3 to registered developers.

iOS 14.5 beta 3 now available to developers with Music app changes and more

Today’s release of the third beta makes further refinements to the new features and changes. iOS 14.5 beta 3 is currently available via Apple’s Developer web portal. It does not appear to have rolled out over the air just yet, which is why you might not see it via the Settings app. 

iOS 14.5 beta 3 now available to developers with Music app changes and more - 9to5Mac