Hi,
“Show Author and Date on Home” is for the below title meta bar only.
For author bio:
Please refer the author section fully, https://themonic.com/online-documentation-usage-guide-for-iconic-one-pro/#author
In short, you have to create a new author with filled in bio and atleast one post assigned. If it is single person blog then also you have to create a new author, you may assign any old post. This is the requirement currently but we might change this behavior in the upcoming versions.