Hi Prakash... nothing comes to mind. The Okta Admin would have to reset the user's MFA since the user needs their "lost" device to authenticate into Okta to reset their MFA, which I would happen after the user has replaced the lost device with a new one. Another option would be for the user to authenticate into Okta from a location which does not require MFA, and then reset the MFA option manually from the Settings window.
Thank you Jim, that helped. I am assigned a task to present all possible options to "Okta-Support- Enable self service Second Factor reset" for normal user and all sort of admins with all possible scenario. So I want to discuss all possible options. What can be the best option gather maximum information possible? Is opening case a good idea to discuss the issue?