There use to be an artical in the knowledge base on this--and it got into low level RTTI and I found it difficult to understand.
Another method would be to save the settings when it was created and then restore them. Some talk of it here.
https://www.devexpress.com/Support/Center/ViewKBIssue.aspx?kbid=A2353&searchtext=RTTI+&pgid=48409584-e723-41af-b1d3-52dd97577823
Depending on the particulars, I would look at putting the grid on a frame and embed the frame in the control Then when they want to reset it, recreate the frame.