is it possible to restore data after erasing with disk utility

Depends. If this was an HDD, then unless you wrote over the actual data with zeros at least 3 times, you could not guarantee that your NSA DATA would not be seen, since reformatting only changed the map not the data.

SSD’s store data in a different way. You could google it, and maybe get an answer too complicated to understand by normal people like me.

I think the OP is asking a “WHY” question here, not a “JUST DO IT” question.

Here is an answer to the question I think: https://www.quora.com/If-you-format-an-SSD-is-the-data-completely-gone-unlike-a-hard-drive-where-it-can-be-retrieved-Therefore-can-an-SSD-be-safely-sold-on-after-formatting-it

And you might find this interesting too:

https://www.quora.com/How-can-I-recover-data-from-a-formatted-SSD

Erasing an SSD with TRIM active (which IS the case for all Apple SSD drives) erases the directory area and designates each and every one of the data blocks on the drive for re-use.

This means that, in less than a minute, the drive controller will assemble this old blocks into superblocks, literally over-write every superblock that was previously in use to prepare it for re-writing, and also randomizes the block addresses.

For anything short of Military secrets, your data are GONE. (Military secrets generally require that the drive be shredded).

Here is what to do when trading in a Mac:

What to do before you sell, give away, or trade in your Mac - Apple Support

If you followed the instructions provided then your data is not accessible by the new owner or anyone else.