If I plug that into this site under "Other Carriers/Retail," it says it's supposed to get Android 11 "pending carrier approval": https://motorola-global-portal.custhelp.com/app/software-upgrade/g_id/1949. But when I enter AT&T, the One Ace 5G doesn't show up. You might want to call AT&T support and see if they can give you an idea.
Overall I like Moto phones, but their Achilles heel is updates....one reason they're cheaper. I've personally seen several Moto phones never get an OS update they were slated to get, because Motorola changed their minds. It didn't bother me much for the sale price I paid, and I'm not overly concerned with the latest OS, but it riled up a ton of other customers who swore they'd never buy another Moto phone.
They claimed they were going to do better, but I wouldn't hold my breath