APPLE INSIDER
Apple has added the new, higher-quality ProRAW image format for the iPhone 12 Pro, and iPhone 12 Pro Max, but handling it is more than tapping on a button.

To use the new ProRAW photograph format of the iPhone 12 Pro, and iPhone 12 Pro Max, you in fact need to tap on two buttons. The first enables ProRAW, then the second takes it — because few people are going to always need this format.
Source: APPLE INSIDER