I had this issue and found the solution here: Setup, 'Connection timed out' - #11 by kmrsuman
You have to have a micro SD card and a micro SD card reader - if you don’t have those two things or your camera didn’t come with one, I would contact WYZE to see if they’ll provide one for you.
If you don’t know how to format your SD card, Once you get it plugged in, right click on it and choose “format”. It will allow you to select the correct formatting. Download the firmware from the Wyze website: https://support.wyze.com/hc/en-us/articles/360024852172-Release-Notes-Firmware
Unzip the file and drop the bin file into the SD card. Once you put the new firmware file onto the drive, put the card into the camera and leave it there for a few minutes for it to install. Once that’s done you should be able to follow the normal instructions to connect to the camera via the app.