The Action button, which could be similar to the Apple Watch Ultra’s Action button but with more phone-focused options, is expected to be a new physical button on the next-generation Pro iPhone models that replaces the Ring/Silent switch. The Action button would allow users to quickly access various functions and settings without necessarily unlocking the device or navigating to an app.

From macrumors.com/…/ios-17-beta-action-button-iphone-…