update apple id settings

Some people have fixed this by signing out of iCloud, restarting their device, and then logging back in. That hasn't worked for everyone.

According to a post in this discussion, this is a 'new' known issue that Apple is working on.  

https://discussions.apple.com/thread/251180098

Settings - Update Apple ID Settings When It Won’t Go Away.    

Settings - Update Apple ID Settings When It Won’t Go Away (2).    

Is this your problem, a somewhat "new" known issue that Apple is actively working on? I can't guarantee a solution, but, see:

This document explains what is happening and claims a solution Getting a message to Update Apple ID Settings on iPhone, iPad, or Mac? https://appletoolbox.com/update-apple-id-settings-on-iphone-ipad-or-mac-after-changing-your-password/

See Update Apple ID settings iphone https://discussions.apple.com/thread/251180098

How Fix Update Apple ID Settings If It Won’t Go Away https://techzillo.com/update-apple-id-settings/

Updating Apple ID Settings https://discussions.apple.com/thread/251076026

Update Apple ID Settings On iPhone? What It Means & What ToDo! https://www.payetteforward.com/update-apple-id-settings-on-iphone-what-it-means-what-to-do/  

Do you have access to another WiFi network where you can try? That has worked for several people.

Try a restart.

Restart your iPhone, iPad, or iPod touch         

Try a forced restart.

Reset Device.      

If necessary

Hard reset.        

Do a backup and try a factory reset. Then restore from your backup.

Restore to Factory setting.      

Backup - Restore your device from an iCloud or iTunes backup.      

Did you install the IOS 13.5 update to see if that helped?