For phone use, it is probably a lot easier to get into the phone some other way. Especially if you just want to reset a stolen phone to sell it in some country where the government does not care and hence the Telcos will accept devices on the list of stolen ones.
No, if you don't have the LSKF (Lockscreen Knowledge Factor, i.e. PIN/PatternPasscode) for a Pixel, you can't reset a stolen device, not since Android 15. The anti-reset feature (called "Factory Reset Protection") dates back to 2014, but it had some holes, which I fixed in Android 15.
The way it works is that there's a "boot secret" stored in TrustZone (TZ) and in a directory in /data. The device always boots in the "I'm stolen" state, and until the correct secret is sent to TZ, it remains in that state. While in the "I'm stolen" state various TZ features won't work (notably KeyMint, the TZ-based crypto app that provides attestation that proves the device is legit to servers in various cases), and if userspace asks, TZ will report that the device is stolen. Various userspace components query this periodically and refuse to operate correctly in the stolen state, rendering the phone pretty useless.
During normal boot, the system reads the secret from file system, passes it to TZ, TZ flips off the "I'm stolen" bit, and everything works normally. But if you do an untrusted factory reset (trusted resets require entering the LSKF) the copy in the /data partition is destroyed. And I mean "destroyed", not "deleted", not "overwritten". The data partition is all encrypted and factory reset rotates the root derivation secret, which is stored in the Titan M chip, so everything on the data partition is gone.
To recover from this state, the setup wizard offers you an opportunity to enter the LSKF. If you do, it's passed to TZ, TZ flips off the "I'm stolen" bit and allows a new secret to be stored in both TZ and in the data partition, and we'e back to the normal operational flow. In case you have forgotten your LSKF, the setup wizard also allows you to connect to Wifi and log into some Google account that was on the phone just before the reset. If you can, then the Google server will send down an encrypted copy of the boot secret that was encrypted on-device and uploaded and stored associated with the account. It's encrypted so Google can't decrypt it, but the device can. So the device decrypts the secret, sends it to TZ, and if it's correct, TZ flips off the "I'm stolen" bit and allows a new secret to be stored in TZ and the data partition, and uploaded (encrypted) to Google (I omitted that third copy previously just to keep the explanation simple; the secret is only set when network is available and the upload is successful).
How can this be defeated? Nothing is perfect so there are a few ways, but they're not so easy:
1. If you can compromise TZ you can undermine the whole scheme.
2. If you can bypass kernel restrictions on access to the file where the secret is stored (both filesystem permissions and SELinux controls), you can grab a copy before the reset, and if you can then do the same thing after reboot to write the file to the right place, then reboot, you're golden. Note that the secret changes frequently, though, so be sure you grab the right one. It changes at least on every boot (assuming network is available) and sometimes during operation (but only when network is available; gotta be able to upload the encrypted secret).
3. If you can replace the system image with one that just ignores the TZ FRP stuff entirely, you can avoid the worst of the restrictions, though KeyMint and attestation won't work so the phone will be hobbled. But doing that requires compromising secure boot which is definitely not easy. A remote code execution vuln in one of the early bootloader stages would be suffiicent, but that is carefully-validated, small code and hard to exploit because the phone is not talking to the world, there's just very little attack surface. It's probably more practical to find a persistent kernel compromise that you can use after boot, then modify the relevant system pieces to always report "Ok". But KeyMint still won't work.
4. If you can compromise the system while the user is still holding it so you can steal their LSKF when they enter it, you're golden. Alternatively, if you can get their LSKF by shoulder surfing, rubber-hose cryptanalysis, etc., that works, too. Similarly if you can steal their Google account credentials (or make them provide an interactive video selfie!). Stealing the phone while it's unlocked is not sufficient because the trusted reset flow requires an additional LSKF presentation.
5. If you can brute force the user's LSKF, that works. Then you can do the trusted reset and avoid the whole thing. LSKF authentication is done by the Titan security chip, though, and it imposes exponentially-increasing rate limits on guesses. That was also my doing, but the UI team forced me to water it down and make the schedule far more generous than I think it should have been. That was in the process of being improved last year, though, so I think it's been fixed, and even with the generous schedule you were still looking at months or years of trial and error unless you got pretty lucky or the user chose a bad LSKF (sadly, many do).
Note that the FRP infrastructure I'm describing is part of the base Android system, but it does require some OEM work to enable it. There was a plan to mandate that OEMs do that work. I've left Google so I don't know what the state of that is. But the context here is Pixel, and I know the work was done for Pixel because I did it. Note also that the FRP scheme depends on a few things:
1. The user has to set an LSKF. That is, if they have an open, unlocked-all-the-time device, you can factory reset it.
2. The user has to have a Google account on the device. This is needed to use the Play store and other stuff, so nearly all devices have it. The common exceptions are users who have unlocked their bootloaders and flashed a non-GMS Android (e.g. Graphene, Lineage, Caliyx, etc.). You'll have to ask those OS authors how they deal with FRP. I briefed them on how the system works, but don't know what they did with it. The reason for making this a pre-requisite for FP is because of concern that some users might not know their LSKF; maybe the phone sat in a drawer for a long time.
3. (Implied by the previous) The user has to be running an official image with Play Services.
4. The phone must not be enrolled in an enterprise device management service that has disabled FRP. Of course, generally that's only done on devices that are enrolled in zero-touch configuration, which means that on every reboot they require authentication from an authorized enterprise account. This is also very hard to bypass.
TL;DR: No, you can't just factory reset a stolen Pixel device.