You have tried logging in with a wrong password for more than three times and now you are not being presented with the option to reset your password using your Apple ID or recovery key.
Anytime you try with another wrong password you are presented with a countdown to when you can try again.
Solution
Make sure you have the recovery key backed up somewhere, whether in an MDM platform such as Intune or written down somewhere.
Restart the macOS device and then quickly press and hold the Power button.
You should see Continue Holding for Startup Options after a few seconds.
Continue to hold the Power button until you see Loading Startup Options.
After a few seconds, you should see two icons; Macintosh HD and Options, select Options and then click the Continue button.
On the next screen, select a preferred language, and then on the next screen, you should see the WIFI icon in the top-right corner of the screen.
Select your WIFI and enter the security key to get connected, if needed.
You will be presented with the local user accounts on the computer and asked which one you want to recover.
Select the administrator account to recover.
You will be presented with a space to enter the 24 character recovery key, please type it in and press Enter.
You will then be allowed to reset your password and verify the password.
After resetting your password, you will be presented with other actions that you can take such as Restoring the macOS; do not select any of the options, just restart your computer.
On the login screen, select the account you reset the password for, enter it and then press the Enter key to be logged back into the macOS computer.
