If i enable erasure after ten failed attempts, is it a simple matter to restore phone if it is found or replced?

Hey brown_rj,

The purpose of this feature is to protect your data should a device be lost or stolen. While your data will be wiped automatically, it doesn't mean the phone is usuable. It will still have Activation Lock enabled unless Find My iPhone was disabled prior to losing it.

This means whoever finds your iPhone still can't use it unless they also have your Apple ID password to bypass the activation lock.

See more info here: Activation Lock for iPhone, iPad, and iPod touch - Apple Support

"If your device is lost or stolen

If you ever misplace your device — whether it’s lost or you think it might have been stolen — you should immediately use Mark As Lost in the Find My app.

Mark As Lost locks your screen with a passcode and lets you display a custom message with your phone number to help you get it back. You can also remotely erase your device if needed. Your custom message continues to display even after the device is erased.

While Activation Lock works in the background to make it more difficult for someone to use or sell your missing device, Lost Mode clearly shows anyone who finds your device that it still belongs to you and can’t be reactivated without your password."

Cheers!