I noticed today my Pan Cam V4 would not connect. So I tried two different cables and three different power adaptors. I get a red light that turns solid purple. I tried to press the setup button and start over, but it doesn’t respond at all or say “Ready to Connect” like it normally would. Luckily, I have another week left to exchange it at the store. I did remove the SD card before trying the troubleshooting. I don’t think there are any other things to try.
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Yes, no matter how long I hold the setup button, the purple LED does not change or turn red.
The pan cam V4 power adapter has a different rating. Make sure the power output of the ones you are trying is adequate.
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I tried five adapters now… all higher-output adapters, and they all do the same thing. Red light goes to solid purple, the setup button does nothing when pressed or held down.
If it doesn’t factory reset or even do a basic setup when you press the reset button, save yourself the headache and do an exchange ASAP. Don’t forget to pull your SD card before exchanging.
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I agree with contacting Support to initiate an exchange, because what you’re describing seems like it’s indicating a problem with the device. I believe you should see the status light on one of these turn solid purple only when flashing the firmware, but the Cam shouldn’t be looking for that if you’ve removed the microSD card to follow the factory reset procedure. If you’ve done that and used an appropriate 5V ⎓ 2A power supply and cable, then I think you’ve probably done what you can for troubleshooting and shouldn’t have a problem getting a replacement if you purchased directly from Wyze or an authorized retailer, and you should have up to a year from purchase to do that.
Welcome to the Forum, @chadsc! 
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I am having this exact same issue. Stopped working after a couple of weeks. Went offline, so I inspected it and the status light is purple. Unplugged and replugged and the light is initially red/orange for a few seconds but then goes purple. Holding the setup button does nothing, no matter how long I hold it. Would have tried reflashing firmware via SD card, but apparently that firmware isn’t available.
I hope you’ve contacted Support for that issue, because that seems like another Cam they should replace for you. I don’t know what’s going on with the purple status LEDs in these situations, but I don’t think that should be happening.
Welcome to the Forum, @pvh!