The latest update for Apple is 11.1.0, for Android it's 11.1.1.
Android got another update to fix and issue when you used the back button when changing a Sims appearance. Apple devices don't have a back button so Apple didn't get that update.
Back to your original problem, this is the solution for many people:
https://answers.ea.com/t5/Bug-Reports/Cannot-Host-Party/m-p/6772800/highlight/true#M3171
I understand that you're attached to your current Sims, but The Sims Mobile, unlike The Sims 4 is designed to go through generations.
I don't have another option for you than that. So if you want to throw a party you'll have to retire a Sim. If you don't want to retire a Sim, you won't have the option for a party.
For the other problems you mention, please have a peek at the bug list:
https://answers.ea.com/t5/Bug-Reports/List-of-known-bugs/m-p/6682688#M633
If you don't see the issues you have on it, do make a new post as this one is about not being able to throw parties.