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Hello aspirant
If you wish to cancel admission to a local college and go for a long-term course it's totally fine if you have the confidence that you can score better than JEE 2020. Also as the JEE mains, 2021 is conducted 4 times is in February, March, April, May. For every session, they open respective applications. But if your current local college admission is at a good branch with better placement then I suggest you go for it. But again if you have a strong will, confidence and plan go for a second attempt.
Hope this answer helps you.
Wish you a very All the best!!!!!
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