Magnification glass doesn't come up anymore when moving text cursor?
The magnifying glass is back in iOS 15.
Magnification loupe for text cursor and selection
Select exactly the text you want with an improved cursor that magnifies the text you’re looking at.
https://www.apple.com/ios/ios-15-preview/features/
The magnifying glass has been removed in iOS 13.
Text Editing
- Faster and more precise cursor navigation—just pick it up and move it to where you want
You can find an overview of the new text editing tools in iOS 13 at https://support.apple.com/guide/iphone/iph3c50f96e/ios