The notification points are displayed above the app icon or / icon when there is a notification about a new notification. For example,
If we receive a message about WhatsApp and have a missed call at the same time, a small dot is displayed on each app icon until the respective notification is retrieved.

We can (de)activate the notification points individually for each installed app on the OnePlus smartphone.

Android 10 | OxygenOS 10.0
Step 1:  Open the  Settings
Step 2:  Tap on  Apps & notifications
Step 3:  Tap on  See all apps
Step 4:  Choose an  app
Step 5:  Tap on  Notifications
Step 6:  Tap on  Advanced
Step 7:  Enable or disable  Allow notification dot
  1. Open the Settings
  2. Tap on Apps & notifications
  3. Tap on See all apps
  4. Choose an app
  5. Tap on Notifications
  6. Tap on Advanced
  7. Enable or disable Allow notification dot

OnePlus Instructions