Originally, It had a mt7921 that is supported by a "very basic" Linux kernel driver that, for example, does not support AP (Hot Spot) mode. I swapped it for an Intel AX200 card from a Windows Laptop. Windows support for mt7921 is much better. After enabling 160MHz channel width the receive link speed is very good. The transmit link speed is around half of that likely because of the reduced transmit power (20.00 dBm) or poor antenna. So, iw dev wlp5s0 link is like this:

rx bitrate: 1152.8 MBit/s 160MHz HE-MCS 5 HE-NSS 2 HE-GI 0 HE-DCM 0
tx bitrate: 432.3 MBit/s 160MHz HE-MCS 2 HE-NSS 2 HE-GI 0 HE-DCM 0

It's still much better than what I was getting with mt7921.

note: the laptop came with a Realtek RTL8852AE FRU 5W10V25797 who worked fine but I wanted an Intel card, so I bought an Intel AX200. Caution : you cannot buy any Wifi card because there is a filter-list in UEFI Bios. You must first check the spec sheet from : https://psref.lenovo.com/syspool/Sys/PDF/ThinkPad/ThinkPad_L14_Gen_2_Intel/ThinkPad_L14_Gen_2_Intel_Spec.pdf You can also find there all other spec sheets for other models. Each spec sheet will list the exact models which are supported by this laptop. This model, L14 Gen2 only supports the following cards :

Wi-Fi® 6, 802.11ax 2x2 Wi-Fi + Bluetooth 5.1, M.2 card[2] • MediaTek Wi-Fi 6 MT7921, 802.11ax 2x2 Wi-Fi + Bluetooth 5.1, M.2 Card[3] • Realtek Wi-Fi 6 RTL8852AE, 802.11ax Dual Band 2x2 Wi-Fi + Bluetooth 5.1, M.2 card[4] • Intel Wi-Fi 6 AX200, 802.11ax 2x2 Wi-Fi + Bluetooth 5.1, M.2 card[5] • Intel Wi-Fi 6E AX210, 802

Didn't work initially. Worked after some kernel version that I don't recall.

works