The LG Velvet has started to receive Android 11, albeit only in South Korea. The LG OS Preview Program is open to multiple variants of the device, and marks the beginning of the path to Android 11 for LG handsets.
https://www.notebookcheck.net/The-LG-Velvet-becomes-the-company-s-first-device-to-receive-Android-11-as-part-of-the-LG-OS-Preview-Program.509014.0.html