Apple TV 3rd gen

When using an older device you need to enter the password and code together. However, in order to avoid the time limit you will need to enter just the password, then manually request a code, and then add it to the password

Get a verification code and sign in with two-factor authentication - Apple Support

If you are attempting to input the password and code all at once then you will be exceeding the time limit, which will either result in that error or a loop back to input it again. You need to enter the password without submitting, and then manually request the code so you can then add it to the password.

It took me all weekend to sort through the two way authentication or sign in on a 3rd gen ATV - but I’ve now cracked it!

Fantastic....there was about 4 delicate items to consider, finally got it!

Thanks - I did them repeatedly exactly as shown. I get the code and put it in with my password but it still says incorrect PW. Also did a restart and a reset. Now trying a restore to factory settings.

It’s been an entire day so far for me...can you tell me the secret to cracking it?

You have to follow the steps exactly as outlined above, that is the only way to sign in on an older device.