The trusted device is attached to the SIM card so if you still have the activated SIM card that the trusted device is linked to you should be able to plug it into an active device, receive the code then swap it back out. I hope this helps.

Yes you can later reset your phone and restore from iCloud backup.

The danger with iCloud backup is that it may have been overridden by a backup from you new phone. So disable iCloud backup immediately, until you get around to restoring from the old iCloud backup.

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Yes, if the new phone is activated with the trusted number (or the sim is swapped over) and you select the option to send a text, it automatically fills it in.

Thank you this is what I needed!

Bruh really? That's stupid as hell that that's the default behavior.

I’m not 100% positive. It MAY create a different backup, even if the name is “iPhone” for both old and new iPhone name. But I wouldn’t take the risk.

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This could be a problem on a free iCloud account with almost no storage. If the account has room, though, then it will keep multiple backups. I’ve had to create a new install, then go back and choose an older backup to restore, and it works fine.

On a free account, there may not be enough room for two backups, so the older one may be overwritten. If the person only has the free account, they could log into iCloud from any browser, upgrade to the 99 cent plan, go through this process, then downgrade again later if they want.