For all participating in this discussion, this problem is a confirmed bug that Wyze has acknowledged and has scheduled for a fix in the next app release which is currently in the final rounds of RC Beta Testing and was released to the Beta Testers on Wednesday.
If you would like to get the Beta RC App, you can Sign up to be a Beta Tester and get the Beta App Update.
You can also go to the 2.34 App Beta RC Test thread and read the feedback from the testers. If you feel inclined, you can post there to ask Beta Testers with iOS who are posting in with test results if this feature has been fixed in the RC Test version.
For clarification, Wyze acknowledged this bug and updated users as to the fix here:
This bug only affected the iOS app playback button in portrait mode. That one single button being unusable is the only issue for this bug. The feature has not been disabled. You still have access to all playback from the SD card. You can still use the playback bar from Live View. If you are viewing an Event Video, you can tilt your phone to watch the event in landscape where that playback button is unaffected and still active.