You probably don't want to risk a factory reset until you read this thread:
https://www.mobileread.com/forums/sh...d.php?t=353415
Unless you're on firmware 4.35 or newer (or maybe 4.34?), you may not be able to do a factory reset anymore, as older firmwares don't support the required TLS version to communicate with Kobo's servers. You'll end up being unable to complete the setup unless you use USB with the Kobo desktop program, and of course you can't do that, either, if USB isn't working on your device.