You probably didn't build your server using the CentOS 8 minimal install i.e. RTFM.
From the server I built over the past two days.. noting that this is being used for WHM/cPanel and therefore may have been modified.
[root@vh1 ~]# which iptables
/usr/sbin/iptables
[root@vh1 ~]# ls -la /usr/sbin/iptables
lrwxrwxrwx. 1 root root 17 Jul 21 13:47 /usr/sbin/iptables -> xtables-nft-multi
[root@vh1 ~]# yum install iptables
Last metadata expiration check: 0:41:17 ago on Tue 03 Nov 2020 10:55:06 EST.
Package iptables-1.8.4-10.el8_2.1.x86_64 is already installed.
Dependencies resolved.
Nothing to do.
Comment: WHM/cPanel is still "Edge" and experimental, so unrealistic to think CWP should be anywhere near it, regarding stability. Stick with C7 - CWP is bad enough with the stable release of the OS. There are always those who gotta have the latest shiny thing.