The lowest elo I ever hit I believe was 592. I was there for a reason. I hadn't studied much and I played way too quickly. I wasn't there by accident. If you are 500 elo and you can't escape there is definitely a major reason as to why that is.
You could make a new account, But after you lose a few games to people much better than you (because you never learned what they know) you will be back to where you 'belong' but it doesn't have to be that way. With an analytical approach, checking your games to see the mistakes you make will do you a greater service to your ability to play chess than creating a new account for a rating to give you self validation. The rating means nothing if you can't play at that level.
I lived and breathed every chess youtube video I could lay eyes upon and i shot up from that 600 ish elo all the way to 900 in less than 3 months. Its not impossible you just need to put your mind to it and put in effort and you can get there. The solution is in identifying why you're losing games. Elo hell is the barrier to better than average. If you want to be better than average you must prove it. I proved it after learning things such as; Pawn structure, Opening principles, learning a solid opening for white and black, learning to calculate effectively, learning to slow down and take my time with my moves.
Anyone reading this, ask yourself, Do I know these concepts? Is my calculation good? Could it be better? Do I play too quick? This is how you improve. Find what's wrong and you will find the solution.
All the time people post about how hard low elo is and then higher elo players say no you just gotta blunder check heres the truth i started playing chess on chess.com in 2019 and at first i was a terrible player i would blunder constantly but after getting into the 400s and 500s and watching gotham chess i learned all the tactics i could easily spot them i thought that this would mean my elo would start to climb like how all those tutorial vidoes do how to cross soemthign somethign ladder. 400s and low elo in general are good and way better the most people think we know tactics and can play good games my advice if you truly think that your trapped in low elo hell then delete your account and create a new one and go to intermediate elo or beginner or even advanced you will find your true elo. Thanks for reading