Yes, the Elden Ring supports multiple characters.
Elden Ring supports 10 character slots. It means, you can have 10 different characters at a time.
Create new character:
To create a new character in the Elden Ring, click the “New Game” button and create a character from the character creation screen.
When you use the New Game option, the game will load a new save where you can select a new class and create a new character.
Here, the game does not remove your existing character. And, with a new character you will not get your other character’s progress. It’s an all new game.
You can delete your character in Elden Ring from the main menu character list. To delete character, select character from list and confirm your delete action.