Key Attestation

@Qureshi1Well then it might simply not be supported by your system's TPM version. On that note, you didn't even specify what system model you have, nor any details from the Specifications section of that "Security processor details" window that provide information about your harwdare.

In general, you don't want to clear a TPM unless you're also about to reinstall Windows from scratch or you're absolutely certain that it hasn't been provisioned to store any keys that the OS is relying on.  I can't see the screenshots you posted yet because uploaded images are initially visible only to the person who posted them and to Dell moderators until they get "approved" for public viewing.

Anyhow, I'm not certain about this, but I believe key attestation is a feature that was only introduced with TPM 2.0.  There are some systems that offer TPM firmware upgrades to move from 1.2 to 2.0, but looking over the Latitude 3340's Drivers page on support.dell.com, I don't see anything like that, so it might not be possible with that system's TPM hardware.

I have dell latitude 3340 and the TPM version is 1.2. I had a doubt because the security processor option wasn't even their that is until I installed the new copy of windows 10.

When I tried clearing the TPM, a blue screen appeared saying your pc ran into problems

I tried downloading the file from this page https://www.dell.com/support/home/pk/en/pkbsd1/drivers/driversdetails?driverid=2105j

but when I ran the application, a message appeared "Error: the system TPM query failed, aborting"

@Qureshi1  That's probably because that firmware update doesn't apply to your system model.

I am the type of guy who likes to keep every software up to date. I guess I have no other choice but to keep it that way. Thanks for explaining this in detail.

@Qureshi1  I used to be that kind of guy, but now with the benefit of 15 years of working in IT, I've realized that there's something to be said for sticking to what works, because I've had a few too many occasions where updates broke something that worked fine without adding any value to my use case.  In this particular case since you're trying to get a feature that improves security, I might have done the same, but again I suspect you're limited by that system's hardware in that case.  But as a general statement, I've given up on updating just for the sake of running the latest release.  For one thing, there are too simply too many things in my life that now require software/firmware updates.  There are even coffee mugs that have firmware updates these days!  So nowadays, I read the release notes of a new update, and if they don't contain any fixes or enhancements that are relevant to my use case or related to security, sometimes I'll decide to sit them out rather than risk breaking something for something that I didn't need in the first place.

Update: I installed a new copy of windows 10 after clearing the TPM in bios, turns out attestation and storage status shows its ready and working. I did not update the TPM.