security of iCloud account data when logging onto iCloud on old device

Situation:

I have an older iPhone (SE) that I have not used in a while but that has still my AppleID on it. I would like to do a factory reset on it but to be able to, it asks me to authenticate to iCLoud with my AppleID.

Im a security concious person and I am concerned about confidentiality and integrity of my iCloud data (and any credentials) - that can be potentially compromised when I authenticat to iCloud from this old device.

Question: is there any way to factory reset the device WITHOUT entering my current AppleID password on this old device I do not trust, as it has not been updated for a few years?

Also: is my concern valid that, my iCloud data can be compromised through this old device if i log on briefly to my iCloud account? As a compensating measure, I would need to change my password after using it on the old device, but I'm afraid then it is perhaps too late already if the device indeed was indeed compromised to to having missing security patches for some time....