I have to believe you have this resolved by now. As a new device my answer should be wrong. Mentioning it just in case both assumptions are incorrect.
When you get the It message it could mean you installed Company Portal. Company portal allows you to view company email, calendar, etc on your phone. The company assets are controlled and you cannot independently make changes to the company assets.
The bad part Company Portal is overbearing. I have it on my current phone. I can't remove Company Portal. It states it was added by the company on this phone. Completely untrue. I added it to a previous phone. They say the company has to remove it from their servers. I no longer work for the company so I cannot get to the page. I call in to the company for help. Nothing is done.
Microsoft should allow it to be removed by the user. With the message, any company assets controlled by Company Portal will be permanently erased. Please fix this issue.
I was able to disable the app. At least for now it is inactive. If I get the Duo 2 or any other phone I hope this virus of an app doesn't transfer to the new phone.
A long message to say, if you have Company Portal installed then try to uninstall. If not allowed then disable it. Then maybe you will be able to reset.