The new battery health recalibration feature in iOS 14.5 beta has increased battery health percentages for some iPhone 11 users; however, it's decreased health percentages for others.
The new feature was introduced in beta six; however, it takes a few weeks to finish.
In a thread on reddit, user StephIschoZen said their battery's maximum capacity went up from 88% to 94%. Other users reported the same. Logic33011's percentage increased from 85% to 87%u, user haenrqz said their percentage went up from 90% to 96%, and rafaqueque's went from 84% to 89%. However, there were reports of opposite. Andrew2511 said his percentage went down from 89% to 88% and user juniorspank's said theirs went from 90% to 87%.
Here's how Apple describes the recalibration feature.

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