I have had the same issue. This started about two months ago - Two Cam v2, two Cam Pan - both fail to playback and do exactly as you describe Charley.
I did every single thing to reset, reboot, reinstall the physical cams themselves, uninstalled/reinstalled the app, reformatted memory cards, etc, I do not believe this was a hardware issue but the beta app issue.
I contacted support regarding this issue and was told to send logs. I did so to no avail - send the logs, send a report/ticket etc - a general response suggesting there was a user error and that I should learn to use the forums.
Last week my notification events failed to pop up on my device. Wow that blew my mind as to me one of the best features is knowing when something happened and being able to check it out - but it’s useless when you don’t get notified.
Again contacts sent to Wyze and no response.
Not trying to high-jack your post but I’ve seen very little discussion regarding these problems and no response from Wyze…I’ve been very faithful sharing events with Wyze to help the community for almot a year now - I really like their products. As a matter of fact (not making this up) I just installed two new Wyze Plugs about an hour ago.
SO - short story long, I unsubscribed to the Beta App club, reinstalled the “for general consumption” app and all is well - I mean EVERYTHING works correctly now - recordings, playback, notifications etc.
Hope this helps -