I set up my wifes new iphone 14 pro with my id and password by mistake

The easiest solution is to reset it and start over. See→What to do before selling or giving away your iPhone, iPad, or iPod touch

ffrankh1964 Said:

"I set up my wifes new iphone 14 pro with my id and password by mistake: can I just reset it or are there other things that i need to do"

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Log Out of iCloud, as if you were to Sell it:

Perform as instructed here, including the iCloud logout: What to do Before you Sell, Give Away, or trade in your iPhone, iPad, or iPod touch - Apple Support.