@AJP_850 Thanks for your explain.
For Q1: Which account you used to login the laptop? If using the local account login, you can unenroll. It will not lose data. If using the Azure AD account login, you need to back up and then unenroll. "Unenroll" action will not delete apps that exists before the laptop enroll. We can refer to the following link to unenroll the laptop by ourselves.
https://www.tenforums.com/tutorials/105509-disconnect-windows-10-pc-azure-ad.html#:~:text=All%20software%20remains%20installed%20and,to%20disconnect%20from%20Azure%20AD.
Note: Non-Microsoft link, just for the reference.
For Q2: When you click on "Wipe", you don't need to do anything else, it will works less than 15 minutes. I don't think you need to perform wipe action because a wipe action is useful for resetting a device before you give the device to a new user.
Thanks for understanding and have a nice day.