Just got my 10yr daughter a phone - help me not screw this up

Pulled the trigger and got her an iPhone for her birthday. She's in 5th grade and pretty much everyone else has one. I set up Screen Time, enabled iCloud Family, and put some apps in restricted access mode. But now I'm paranoid I missed something. What are the non-negotiable security settings I should check? Also is TikTok actually that bad or am I being an old man about this?