It's easier to remove unwanted apps from the device and work on your self-control than it is to do what you are describing. A lot of banking apps won't work on a rooted phone, for instance. I'd imagine you will have similar problems in a simulator. Just keep a burner phone with minimal shit installed.

As for 2FA, there are plenty of devices that can do this without a phone/SMS. I use 1password for 2FA across all my devices (laptop, desktop, phone).