There does not seem to be a wildcard character for this, so I adapted the solution that is found here:
MySQL for replace with wildcard
It only works if there is only 1 in the content of each post. Because it will take the content until and including that .
UPDATE wp_posts
SET post_content = SUBSTR(post_content, 1, LOCATE('</iframe>', post_content)+8)
Notice that the +8 is the length of this string minus 1: </iframe>. You may want to test it on 1 row first.
I just realized this should only be applied to rows that DO have </iframe> in it, or else the rows without it will become empty.
So you need it like:
UPDATE wp_posts
SET post_content = SUBSTR(post_content, 1, LOCATE('</iframe>', post_content)+8) WHERE id IN (SELECT id FROM wp_posts WHERE post_content LIKE '%</iframe>%');