Doing this, remove your games, your previous saves, and all your current profiles, says Microsoft. This, in turn, makes your games and saved games inaccessible to a new owner without your gamertag and password.
How to Reset Xbox One settings
To reset Xbox One or Xbox Series X, go to the ‘Homescreen’ of Xbox One app. Scroll left on the Home screen to open the guide and select ‘Settings’ from the list of options displayed. Next, chose ‘All Settings’ and then select ‘System’. Now look for ‘Console info & updates’ and select ‘Reset console’. Please note, when you chose the above option i.e. when you chose to reset the console, you’ll see three options as listed below. After you select one of the Reset options, your Xbox One console will begin the process of erasing the content and resetting itself to the default settings. A progress bar will let you track the progress. That’s it!