It appears Apple will launch the iPad Pro 2021 this April, and it will come outfitted with an A14X chip, which is said to be based on the M1 chip found in the latest MacBook Pro, MacBook Air and Mac mini.
9to5Mac recently discovered references to the new A14X chip in code in the recent iOS 14.5 updates. It is codenamed 13G, which seems to be in line with how Apple names upcoming GPUs. 9to5Mac also mentions that, according to its research, the "A14X is based on the T8103, which is the codename for the Apple M1 chip used in the first Apple Silicon Macs. "
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This correlates with a recent Bloomberg report that claims the next iteration of iPads would come with an updated processor based on Apple's M1 chip to be released in the first half of 2021.
Given these rumors, the new iPad Pro will almost certainly be flaunting a new A14X chip when it is expected to launch at Apple's rumored April event.
The other dominant rumor about the new iPad Pro models is that they will come with Mini LED displays, which will provide huge improvements in contrast and color reproduction. We should know more soon enough as the Apple April should be right around the corner.