Has the ability to manage password preferences for App Store purchases been removed in iOS 14?
Has the ability to manage password preferences for App Store purchases been removed in iOS 14?

No, it is located here:
Settings &gt; Apple ID &gt; Media &amp; Purchases &gt; Tap 'Account' Icon &gt; Password Settings:

Always Require Password

Require after 15 mins


NOTE: The 'Account' icon is the little blue circle with a head, located top left.
This is also where the option to sign out of the App Store is located in iOS 14