Dogecoin core developer Patrick Lodder made his point that the 1.14.7 update should be done before the 1.21 release. He believes that 1.21 cannot be released as a 1.14.7 update, as it will contain big features that are already coded but intended to be released in 1.21.1 or later.
Lodder explained the nature of the 1.21 update as a foundation for the future, Dogecoin never needs to survive, as update 1.14.6 is enough to make it work as intended and use it as a base for bug fixes and small features.
According to Lodder, the suggested timeline for the 1.21 update is March 2023. On the other hand, the developer expects 1.14.7 to be released this year, as he plans to have a release strategy as soon as more fixes and features are released, making it a significant release, added.