What is a screen time passcode?
What is the screen time passcode? It’s needed to reset my phone
iPad, iPadOS 15
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Screen Time is a facility on a device to monitor activity. Apple's page for Screen Time summarises this: With Screen Time, you can access real-time reports showing how much time you spend on your iPhone, iPad, or iPod touch. You can also set limits for what you want to manage.
It further says With Screen Time, you can also create a dedicated passcode to secure settings, so only you can extend time or make changes.
This is commonly used to regulate the use of a device by a child - for example an iPhone.