Forgotten passcode for iphone app store restrictions, would setting up a new apple id rectify this restriction?

Generally, creating a new Apple ID is not recommended. It will introduce a whole range of other problems, including loss of access to purchased content.

Ameliabukker has the right idea.

Here is some additional information:

If you forgot your Screen Time passcode - Apple Support

You could create a new Apple ID, it would help get rid of those restrictions… but if your a kid then don’t try to bypass them parents can always see if you create a new account

bellelalor wrote:

Would setting up a new Apple Id and logging in with that new id rectify the problem? Restrictions were set many years ago on a child's iphone, Phone was then swapped and the iphone has been updated to newer models but the restrictions have stayed on the phone. As a result new apps can't be downloaded because of the restriction. Resetting/wiping the iphone is not an option as it is used as a business phone.

In some cases, the restrictions passcode might be the same as your Apple ID password. Try entering your Apple ID password to see if it removes the restrictions.

If you have associated your Apple ID with your iPhone, you can reset the restrictions passcode using your Apple ID.

Go to "Settings" on the iPhone.

Navigate to "Screen Time."

Tap on "Forgot Passcode?"

Enter your Apple ID credentials to reset the passcode.