Fedora IoT 35 armfhp image at https://download.fedoraproject.org/pub/alt/iot/35/IoT/armhfp/images/Fedora-IoT-35-20211101.0.armhfp.raw.xz contains F34: Fedora 34.20211031.0 (IoT Edition) Kernel 5.14.14-200.fc34.armv7hl on an armv7l
It's fixed, including in the latest images published on getfedora.org