Erase All Content not showing as an option on Monterey 12.6.2

I updated MacBook Air (no M1 Chip) to Monterey and "Erase All Content" is not an option in the System Preferences drop-down menu. I mistakenly set up the MacBook with the wrong account information. Since I just set this up a few hours ago, I need to simply reset it and start over. But there are no instructions associated with alternate version options that illustrate a viable solution.

Can anyone help?