You can only choose one additional creature type or one additional humanoid at later levels
Largely just to present an alternative take to the one presented by the most upvoted answer, if we focus on the terms used, it says:
Choose a type of favored enemy: aberrations, beasts, celestials, constructs, dragons, elementals, fey, fiends, giants, monstrosities, oozes, plants, or undead. Alternatively, you can select two races of humanoid (such as gnolls and orcs) as favored enemies.
You choose one additional favored enemy, as well as an associated language, at 6th and 14th level.
It first defines what a "favored enemy" is, including referring to two humanoids as "enemies" (plural). It then goes on to say that you gain one additional "favoured enemy" (singular).
From this, it is clear to me that, RAW at least, you can only pick one humanoid (if you want to pick humanoids over the other creature types) rather than two, at later levels, even though you are allowed to pick two when you first gain this feature at level 1. So if you want two humanoids instead of one creature type, it's best to pick these humanoids at level 1.
Of course, I don't think it would be at all unbalanced for a DM to allow you to pick two humanoids at level 6 or 14, because the level 6/14 ranger who picked two humanoids at level 6 and a creature type at level 1 would have exactly the same number of favoured enemies vs. if they'd picked the two humanoids at level 1 instead.
Of course, such a houserule allows for, say, a level 6 ranger to have four humanoid favoured enemies, which it seems wasn't intended, but unless you're playing in a very humanoid-centric campaign, the broadness of (some of) the creature types make them more attractive than a specific set of humanoids anyway.
For example, choosing humans and elves would allow you to track any human or elf, which is probably a lot of NPCs, and a lot of enemies (in a humanoid-centric game), but the monstrosity type includes being able to track half the Monster Manual (since monstrosity is the "everything else bucket" creature type), so I think it balances out.