This build is first build from MIUI. But still not fastboot firmware release except China. This is full OTA update.
I suggest full wipe before flash. You can try dirty flash if the current region firmware is same (China update to China, EEA update to EEA)
China version
China version
Fastboot firmware:

Download V12.0.1.0.QFGCNXM - Xiaomi Redmi Note 7 - China Stable in MiFirm
Download firmware, ROM V12.0.1.0.QFGCNXM - Xiaomi Redmi Note 7 - China Stable - lavender in MiFirm ✅ - Xiaomi MIUI Firmware - ROM - TWRP download free and max speed - The biggest Xiaomi Mi download

Download V12.0.1.0.QFGCNXM - Xiaomi Redmi Note 7 - China Stable in MiFirm
Download firmware, ROM V12.0.1.0.QFGCNXM - Xiaomi Redmi Note 7 - China Stable - lavender in MiFirm ✅ - Xiaomi MIUI Firmware - ROM - TWRP download free and max speed - The biggest Xiaomi Mi download
EEA version
Zip ROM full OTA: EEA version

Download V12.0.2.0.QFGEUXM - Xiaomi Redmi Note 7 (EEA) - Global Stable in MiFirm
Download firmware, ROM V12.0.2.0.QFGEUXM - Xiaomi Redmi Note 7 (EEA) - Global Stable - lavender_eea in MiFirm ✅ - Xiaomi MIUI Firmware - ROM - TWRP download free and max speed - The biggest Xiaomi Mi download
How to flash MIUI 12 for Redmi Note 7 lavender:
Fastboot firmware: Flash from fastboot with MiFlash, unlocked bootloader required. Please remember to tick clean all if you do not lock you bootloader and phone may not boot
Zip ROM full OTA: Use updater app if using same region firmware. Or TWRP if diffirent region
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