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Google officially suspends support for Android Lollipop after a decade
This means there will be no more official updates, as the Lollipop-running devices account for less than one percent of the total.
Per Google Spokesperson's statement to the publication, the reason for putting a nail in the coffin is the percentage of active Android Lollipop devices, which is said to be accounting for less than one percent at the moment. Those wondering if the Android Lollipop devices are losing Google Play Services support will continue to work. As 9to5 notes, dropping official support only means Google will prioritize the latest devices and upcoming operating systems, like Android 15.
Or read this on Android Central