Soon after the release of Android 14, some users discovered a rather unfortunate bug plaguing their devices. The issue centers around devices that include multiple users and causes the primary user on their device to be rendered incapable of accessing media storage. But that's not all. Some users also found their device rebooting with a "Factory Data Reset" message.
Should that message be accepted, any data that is not backed up would be permanently lost. To make it worse, if that message is declined, the device could get caught in a continuous boot loop, displaying the message, "Pixel Is Starting."
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Do note: If you haven't enabled the Multiple Users feature (found in Settings > System > Multiple Users), your Pixel device is most likely not affected by this bug.
Fortunately, Google is preparing to release an OTA (Over The Air) update that will fix the issue.
Until that patch is released, Google suggests users either do a factory reset (which will clear the device storage) or fill out a form to receive a test update within 24 hours. The test update can take up to two hours to fully run. If neither of those workarounds resolves the problem, you can always turn to Pixel Support for help.
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The update should start rolling out within the week (this was originally reported on Nov. 2, 2023), so it's important that you regularly check for an update (go to Settings > System > System Update) and apply the update as soon as it becomes available.
This issue also points out the importance of backing up your information. The Android backup tool can be found in Settings > System > Backup. Make sure Backup by Google One is enabled. On that same page, you'll see when your last backup was processed. If you believe the backup isn't recent enough, run the backup manually by tapping Back Up Now.
In the meantime, you can also check this Help Center Article to find out if a Google Play system update is available for your device.