HomePod (14.3) after a reset - did not start

Try unplugging it for a minute to see if that helps.

It might be the manner in which you are touching the top, if it’s for too long (5 seconds) it is trying to reset itself again once it’s going red. So try the Reset again and be sure to count the seconds for both times it instructs you to do this:

1. Unplug HomePod or unplug the power adapter for HomePod mini, wait 10 seconds, then plug it back in.
2. Wait 5 seconds, then touch your finger to the top of HomePod and hold it there.
3. The white spinning light will turn red. Keep your finger down. 
4. Siri will say that your HomePod is about to reset. When you hear three beeps, you can lift your finger.

Reset HomePod - Apple Support

See the Press the top of HomePod to reset it section of Reset HomePod - Apple Support to reset it. Pay attention to the timings. Before you do so reboot your phone then open a webpage in Safari on the phone to establish your network is accessible on the phone.

See also If you can’t set up HomePod - Apple Support.

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Did you ever hear it say it’s about to Reset? Is it doing anything? can you talk to Siri?

If it’s not doing anything Unplug it for 5 seconds, plug back in and let’s see if you can get it set up by holding your phone near it.

Set up HomePod

1. Plug HomePod in to power. Wait for a chime and a pulsing white light to appear on the top of HomePod.
2. Unlock your iPhone, iPad, or iPod touch and hold it next to HomePod. Tap Set Up when it appears on your device's screen. 
3. Follow the onscreen instructions to choose your HomePod settings. You can also customize and manage all of the settings for HomePod in the Home app after setup. 
4. When asked, center HomePod in the viewfinder on your iPhone, iPad, or iPod touch to complete pairing. If you can't use your camera, tap Enter Passcode Manually and Siri will respond with a four-digit passcode to enter on your device. 
5. Wait for HomePod to finish setup. Then Siri will greet you and give you

It’s not dead if it’s a white swirling light. It’s going to take a few minutes to be ready to set up again .

Set up and use HomePod - Apple Support

If it’s still in the Hone App, remove it from that, then try the set up,

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