Have you tried an Index like:
{ employerId: 1, createdAt: -1, erased: 1, parentReport: 1 }
Using the Equality, Sort, Range paradigm this should give better performance.
Your pattern for $ne: true and and parentReport: {$exists: false} are not an equality or sort parameter so may fare better as a range.
Even {employerId: 1, createdAt: -1} could fare better and support more queries.