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.
Delete character:
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.