Zoom confirmed in a blog post that it will make automatic closed captioning, or live transcription, available to all users in the fall of 2021. Auto closed captioning is part of Zoom Meetings accessibility features that also includes keyboard accessibility, pinning or spotlighting interpreter video, screen reader support, and a range of other accessibility settings.

source https://gadgets.ndtv.com/apps/news/zoom-live-transcription-paid-feature-free-all-users-fall-2021-2379181#rss-gadgets-all