You won't see Android 14 under Compiler Android version (Target Framework)
All you need to do is include the following in your manifest
<uses-sdk android:minSdkVersion="25" android:targetSdkVersion="34" />
You will get the following warnings but you can safely ignore them.
Severity Code Description Project File Line Suppression State
Warning XA1008: The TargetFrameworkVersion (Android API level 33) is lower than the targetSdkVersion (34). Please increase the $(TargetFrameworkVersion) or decrease the android:targetSdkVersion in the AndroidManifest.xml so that the API levels match.
The aab you produce will be accepted by Google Play.
The only thing you can't do is use any new Android 14 features such as credential manager etc.
You can only use the new features when you then convert your project to Net8
The comments above about Maui are totally irrelevant if your project is Xamarin.Android.
I originally converted my app to .Net8 when it was released, but the general performance was inferior to the Xamarin.Android version, so I stuck with the X.A version so I could release it. Hopefully, by now they have overcome the performance problems so I'll convert again, now that the beta of Android 15 is available.