It is said that they are downgrading the existing free tier specifications. Someone who spoke with Oracle customer support posted about it on Reddit.
They say that existing users will also be charged for excess usage if they don't adjust their instance specifications accordingly. Because they didn't notify users and only updated the documentation with a June 12 date, complaints are being posted on Reddit.
I'm also using ARM with 4 cores and 24 GB for free, but I'll need to reduce it to 2 cores and 12 GB.
It seems AMD remains at 1 core and 1 GB.