Hello @Vivek Sagar Pandey ,
Personally, I have been (and currently I am) involved in projects where Azure IoT Edge is rolled out.
All production projects are done on Ubuntu 18.04 LTS together with IoT Edge Runtime 1.1.X (the LTS version).
We are already checking out the 1.2 version because, in the end, this will become the LTS someday. Especially the new Nested Edge feature has our attention.
We are also testing on Ubuntu 20.04LTS and are optimistic about the stability.
As @António Sérgio Azevedo also mentioned, Tier 1 and LTS versions are important to us.
The good news is that during the Azure IoT Edge Summit - Technical Track the same question was answered: