From Fedora Project Wiki

Q: How would encryption of /home and / sub volumes be implemented?

A: For the F33 timeline, we plan to stick with Btrfs-on-LUKS, so there will be one big LUKS partition, on top of which there will a Btrfs with multiple subvolumes (root and home). In future, once Btrfs implements native encryption (this is work in progress upstream), we will propose to make a switch, but this is definitely not going to happen in F33.