DRY & KISS Principles

What issue with the KISS principle is demonstrated in this utility function implementation?
function formatData(data, options = {}) {
  const {
    dateFormat = 'yyyy-MM-dd',
    numberFormat = 'en-US',
    currency = 'USD',
    timezone = 'UTC',
    precision = 2,
    useGrouping = true,
    transformNulls = true,
    transformUndefined = true,
    customTransforms = {}
  } = options;

  const transformed = {};
  for (const [key, value] of Object.entries(data)) {
    if (value instanceof Date) {
      transformed[key] = formatDate(value, dateFormat, timezone);
    } else if (typeof value === 'number') {
      if (key.toLowerCase().includes('price') || key.toLowerCase().includes('amount')) {
        transformed[key] = formatCurrency(value, currency, numberFormat, precision, useGrouping);
      } else {
        transformed[key] = formatNumber(value, numberFormat, precision, useGrouping);
      }
    } else if (value === null && transformNulls) {
      transformed[key] = '';
    } else if (value === undefined && transformUndefined) {
      transformed[key] = '';
    } else if (customTransforms[key]) {
      transformed[key] = customTransforms[key](value);
    } else {
      transformed[key] = value;
    }
  }
  return transformed;
}
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