Hi abamid,
We can imagine that you're excited to start using your iPhone 12 Pro Max, and we want to make sure the restore process works as expected. When you see the screen that says, "Setting up your Apple ID", how long does it appear on the screen? Also, are you restoring the iPhone 12 Pro Max from an iCloud backup, or are you using another option like Quick Start?
If you're using Quick Start, let's try using the steps below and let us know if it changes the behavior.
Use Quick Start to transfer data to a new iPhone, iPad, or iPod touch
Please let us know what you find and we'll take it from there.
Have a great day!