I understand the logic you are using however that is not the intent or how it is required to be handled. The advance child tax credit (ACTC) is based on the tax year 2020, if your situation changes because you are claiming less dependents, the overall credit you are entitled to is based on the dependent children on your 2021 return. You are allowed a maximum amount of credit, less what you already received.
As you indicated, you have two dependents that are under 6 years of age which allows you $3,600 each or a total of $7,200. This will be reduced by any ACTC you received and the difference is what you are entitled to. There is no underpayment for 2021 or a Repayment Protection action for your situation.
The other parent or person will be entitled to the child tax credit (CTC) for the child they now claim and you do not.
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