I see. I thought you have misunderstood TOTP/HOTP secret regeneration for the OEM factory reset.
Could you send screens please from the latter procedure? The device has to be reset during it as well.
If it does not work from the menu, you can run Options -> Exit to recovery shell and enter the following:
oem-factory-reset
then press <ENTER> button and follow the screen guide.
Please let me know how this went.