iPhone, iPad, and iPod touch owners who have upgraded to iOS 12.1 will no longer be able to downgrade to iOS 12.0.1. The iOS 12.1 update was significant, introducing Group FaceTime, eSIM support for Apple's newest iPhones, new emoji, and more.
Apple routinely stops signing older versions of software updates after new releases come out in order to encourage customers to keep their operating systems up to date.
iOS 12.1 is now the only version of iOS that can be installed on iPhones and iPads by the general public. Developers and public beta testers can download iOS 12.1.1, an iOS 12 update that's currently being beta tested.