you are prob screwed because the W11 update will have wiped the old drive format
yes you can just download and install a copy of W10 from the Microsoft server and that will detect your legit key but the other 3rd party software and apps that this device came preinstalled with are going to be hard to setup... if you can find copies on the makers website then thats normally your best bet
so yes your laptop came with W10 pre loaded and a format will wipe all data on the drive
tip; what I do with every laptop is replace the harddrive with a new one then install Windows again on the new drive while the old drive goes into a desk as my backup... that way I can always reset my laptops by replacing the old drives
p.s, imo you may as well...