Hi @Ashish Raj ,
I have received confirmation that we do not have a feature like recovery code in B2C and we will not have it in the future.
If your end goal is to add more MFA flexibility to users, one suggestion is that you could add multiple MFA methods at the same time during user registration and the user can choose any one of these to pass MFA.
For example, users can register multiple MFA methods during sign-up. And during sign-in, if they lost the Authenticator app they could still use either phone call/SMS code or email OTP or partner MFA to pass it.
Here is an example code you could reference:
https://github.com/azure-ad-b2c/samples/blob/master/policies/mfa-email-or-ph
If the information helped you, please Accept the answer. This will help us as well as others in the community who may be researching similar questions.