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Mentor
Send a note to the recruiter thanking them for their time, but after further thought, you don’t think the role will align with your goals and you’d like to withdraw your name from further consideration
Eh, don't waste your time or theirs if you know you're not going to accept. Just send them a polite note saying that you've enjoyed the process, appreciate their time, but are going to pursue another opportunity.
Slalom has the better answer. Thank them for their time, but pursuing an opportunity elsewhere. You do not owe them an explanation and saying you don’t think the role aligns with your goals can put them off. While your goals may change. Any chance of hurting their feelings can haunt you for a long time - even on roles in totally different companies in a dozen or more years. I have been super surprised at how long some people keep their prejudice/judging opinions as if no one ever changes.
So be super nice and let them know if the other direction isn’t what you think it is, then you might be reaching back out. And in the meantime if there’s ever a way to work together or refer someone to them as client or employee you will.