If you followed this guide precisely and still face issues, the T470 may have a blown by a corporate IT policy (Absolute Persistence Module locked at the factory). In that rare 0.5% case, only motherboard replacement works. For everyone else, enjoy your unlocked ThinkPad.

Our tests were successful, and we were able to reset the BIOS password on the Lenovo T470 using the above method. The results are as follows:

You will find forums claiming that typing "1234" or "lenovo" works. However, Lenovo does provide a Service Override for Power-on Password (not Supervisor).