macOS is getting its first-ever dedicated game mode Sonoma last year. As Apple describes it, it prioritizes gaming and aims to provide smoother and smoother refresh rates by freeing up background activities and allocating more resources to gaming. The same functionality has been integrated into Recently announced iOS 18.
Game Mode on iOS 18 works the same way as it does on macOS. It reduces background activity to provide “high refresh rates” on your iPhone. Additionally, it aims to significantly “reduce” audio latency https://pocketnow.com/bluetooth-latency-explained-how-to-minimize-it/ With AirPods (currently 2nd generation $189.99 at Amazon) and improve the responsiveness of game controllers.
The good thing is that you don't have to do anything to set up Game Mode on iOS 18. It will be automatically enabled when you launch a game or game launcher, and when you enable it, you will see a notification. Apple hasn't provided any performance comparisons yet, and we don't know if it will work with all games.
However, MacRumors notes that iOS 18's Game Mode is designed for AAA games. This includes titles such as Resident Evil Village, Assassin's Creed MirageDirector's Cut of Death Stranding and the recently announced Resident Evil 7.