I am learning how to bake textures in Blender and I made a simple high poly mesh by subdividing a plane couple of times and poked the faces out.
I then added a plane, did no changes to it, and added a material to it, and also added an Image Texture node in the Shader Editor, and created and assigned a new image there with default properties, and selected that image node.
Now I changed my render engine to Cycles, selected the high poly mesh, then while holding Shift I also selected the low poly mesh. I expanded the Bake dropdown, and set the Bake Type to Normal, checked Selected to Active, set the Extrusion to about 0.1 m, and that's it. I then clicked Bake. It takes much less time in Texture Baking than I anticipated, and just gives me a plane blue image.
I believe no other baking types are working.