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May I know whether you still have access to any alternative authentication method, such as a phone number, alternate email address, or another registered authentication method? If an alternative method is available, you may be able to complete the MFA verification using that method and then update or re-register Microsoft Authenticator on your new device.
In the meantime, you could refer to AI's suggestion to verify your old device first. Because you mentioned that access worked previously and the only recent change was moving to a new iPhone, the most common cause is that MFA notifications are still associated with the old device or that the new device has not been fully registered in Microsoft Authenticator.
If you no longer have access to the old device, please ask your Microsoft 365 administrator to revoke your existing MFA authentication methods and then have you re-register them on your new iPhone. You can share the following article with your administrator for guidance on managing and resetting authentication methods: Manage authentication methods for Microsoft Entra multifactor authentication - Microsoft Entra ID | Microsoft Learn
Once the existing authentication methods have been removed, you should be able to complete the MFA registration process on your new device and receive approval notifications normally.
I hope this helps.