The difference between IP Validation and 2FA

IP Validation is a security feature that is activated based on access location.

A user might run into the IP Validation (the screen without the option to enter a code, scan only) if they are logging into the account on a completely different IP Address or location since they've last logged in or since they created the account. 

For example: Created an account in Italy and logged in to various regions in Europe. However, deleted the app and is now logging in from Africa for the first time. This user will see the IP Validation as it won't recognize any of the IP addresses or locations other than Italy and whatever else countries he's been logged in the past in Europe.

This can prevent attackers from entering your account. Even if they have your credentials and even if you are locked out because you didn't back up the 2fa code, if they try to login from another IP, they will be locked and will have a higher timeframe. So you can gain access before them, change your password and keep them out.

With that said, you will likely simply need to just wait 7 days after the 2FA reset and you'll be able to access it.

While IP Validation is activated you will receive a notification when your account is being logged into. Here if you know the device that is attempting to log into your account you can grant permission, If not then you can deny permission. Please note that if you are getting a notification that someone is trying to log in and it is not you, Change your password immediately to prevent any other unauthorized access in the future.

Example of the IP Validation new device login notification:

2FA

Two-factor authentication (2FA), sometimes referred to as two-step verification or dual-factor authentication, is a security process in which users provide two different authentication factors to verify themselves. 

This process is done to better protect both the user's credentials and the resources the user can access. Two-factor authentication provides a higher level of security than IP Validation. The 2FA Code is built-in Edge and the code is fixed and doesn't change. The code will only change if you enable then disable and reenable it again.