Is any Developer working for 15.5 Jailbreak?

Taurine Team and Checkra1n team currently working to release a jailbreak tool for the iOS 15 series. According to both jailbreak teams, iOS 15 to 15.2 versions are fully compatible with upcoming releases but not for iOS 15.5 version.
If you already upgraded to iOS 15.5 Downgrade is the only option to jailbreak your iOS Device.

Is My 15.5 Device Support 15.5 Jailbreak?

jailbreak will be supported on iOS 15.4 to 15.1.1 ( A8 to A15 ) & iOS 14.1 ( A12 Only )
Here is the support for iOS 15.5 running Devices for the upcoming Taurine 15.

• A15 – iPhone 13 and iPhone 13 Mini / iPhone 13 Pro and iPhone 13 Pro Max / iPhone SE (3rd generation) / iPad mini (6th generation)
• A14 – iPhone 12 mini / iPhone 12 / iPhone 12 Pro / iPhone 12 Pro Max / iPad Air (4th generation)
• A13 – iPhone SE 2 / iPhone 11 / iPhone 11 Pro / iPhone 11 Pro Max
• A12Z – iPad Pro 12.9-inch (4th generation / iPad Pro 11-inch (2nd generation)
• A12X – iPad Pro 12.9-inch (3rd generation) / iPad Pro 11-inch (1st generation)
• A12 – iPhone XS / iPhone XS Max / iPhone XR / iPad Air (3rd generation) / iPad (8th generation) / iPad mini (5th generation)
• A11 – iPhone X / iPhone 8 / iPhone 8 Plus
• A10X – iPad Pro 12.9-inch ( 2nd generation ) / iPad Pro 10.5-inch
• A10 – iPhone 7 / iPhone 7 Plus / iPad (7th generation) / iPad (6th generation)
• A9X – iPad Pro 12.9-inch (1st generation) / iPad Pro 9.7-inch
• A9 – iPhone SE 1st Generation / iPhone 6s / iPhone 6s Plus / iPad (5th generation)
• A8 – iPad mini 4

iCloud Bypass IOS 15.5 

Checkra1n is the only semi-tethered tool that is supported to jailbreak iOS 15.4 / iOS 15.4.1 / iOS 15.5 and Beta running IPhone 6S – IPhone 13 Pro Max Models.
Checkra1n confirms the latest iOS 15.2.1 Jailbreak compatibility as well.