Help: Reset iphone options

Bit of a strange one and I'm looking for ideas.

My iPhone XS packed it in over the weekend. Either the battery or some power regulator or something gone in it. Batter won't register above 1%, won't charge and is constantly restarting even when left plugged in.

I've gotten a replacement but now want to wipe the old XS and effectively reset it to factory. Only thing is I have theft protection enabled which has a 1 hour timeout. Problem with that is that the timer restarts if the phone is switched off. So I can't reset or wipe the phone as it won't stay on long enough for the timer to go down.

I could just leave it in a drawer and forget about it but I like to be safe so would like to wipe it. Any options here short of getting it repaired?