In iOS 13, a running timer was shown on the lock screen, so picking up your iPhone was enough to quickly see the remaining time without needing to unlock it:
In iOS 14.0.1 this feature is gone, so in order to see the remaining time on a timer you need to unlock your iPhone, find the Clock app, and switch to the Timers tab.
Is it possible to see the remaining time on the lock screen in iOS 14?