There is no way of resetting the Notes password, however, you can create a new password for the new Notes that you would lock or create.
The only option that you have is to keep trying as there is no limit on the number of attempts.
However, you can set a new password for your new notes, but for the old notes, you need to get the old password only.
If you have imported some notes from Old iPhone to the new one then you will have to attach the password to the new Touch ID / Face ID on your new iPhone. At some given time you must have created a password and enabled touch Id / Face ID to the password. Any Notes created thereafter will only use your Touch ID / Face ID. Because of this, it is very likely that you may not recall the password now.
Face ID / Touch IDs are not transferable from one device to another.
Watch the 2 GIFs below about locked Notes.