LG has committed to upgrading the LG Velvet to Android 12 by the end of this month. LG's Android 12 rollout will begin in South Korea and could take a while before it reaches other markets. The likes of the LG Wing should be in line for Android 12 too.
https://www.notebookcheck.net/The-LG-Velvet-is-set-to-start-receiving-Android-12-within-the-next-few-weeks.605257.0.html