Usually after a major update the system spends a few days "reindexing" itself in the background - cache is being reprocessed, system processes are optimizing themselves. If your battery dropped that sharply, that's most likely what's happening. Give your phone a couple of days to work in a calm mode, don't use it heavily at night, and see if the drain goes back to normal.
If after a week or so the battery still hasn't returned to normal, the problem could be deeper. Try restarting your phone, check in settings which app or service is consuming the most energy - sometimes after an update some process starts hanging and hammering the battery. If that doesn't help, you should try resetting your network settings or even reinstalling the system through restoring from a backup.
Also keep in mind that the iPhone battery itself degrades over time - if you've had the phone for about two years already, it's quite possible that the update just revealed its actual capacity, which the system was somehow compensating for before. Check the "Battery Health" percentage - if it's dropped below 80%, a replacement is due.