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The standard treatment for newly-diagnosed multiple myeloma (NDMM) is autologous stem cell transplantation (ASCT). For this procedure, a patient's own healthy, blood-forming cells are collected. The patient then receives high-dose chemotherapy or radiation to kill the cancer cells. Then their healthy cells are returned to their body to recover. While ASCT is effective for many patients, it has significant side effects and may not be the best option for every patient with NDMM. In this research study, participants will receive one of two (2) study treatments: a new regimen of elranatamab plus daratumumab or a conventional regimen of ASCT plus lenalidomide and daratumumab. The delayed use of ASCT, as explored in this research study, is experimental and not standard-of-care.