For setting the favicon, site title, and tagline of the website, you have to navigate through
Dashboard >> Appearance >> Customize >> Site Identity.
Site Title
Site Tagline
Site Logo
Favicon
The favicon can also be added on the same page, it’s the WordPress default option, and you can use image size 512*512 for it.
A favicon can also be added as favicon.ico inside the root folder of WordPress Installation.
