Forgotten screen time passcode

I've set a screen time passcode on my phone to limit my kid's phone usage through family sharing. I've changed the passcode and forgotten it. The information I found on this site says to restore phone to factory default, but it doesn't mention who's phone to restore? If it's my kid's phone, but that doesn't help that I still can't reset the screen time passcode on MY phone. If it's to restore my phone, how does that help with my kid's phone that is still controlled with the old passcode? Also, my phone is installed with several MFA apps for secure authentication into my work, how can I safely restore these MFA services with this process?

Why doesn't Apple program it such that we can reset the screen time passcode with our Apple IDs?