@Ashwini Meli Thanks for posting in our Q&A.
For this issue, currently, there is no method to cancel wipe action. Based on my research, I find someone has the similar requirement. We can vote and post our detailed request here. This is a place to collect customers' requirements and problems.
https://microsoftintune.uservoice.com/forums/291681-ideas/suggestions/35193364-allow-to-cancel-a-device-wipe-process-once-initiat
Thanks for understanding.
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