According to the post on the Reddit group:
https://www.reddit.com/r/wyzecam/comments/pu4hij/_/he0ruuj
Thanks to /u/chevyman142000 for figuring renaming to demo.bin was incorrect. The firmware needs to be named demo_wcv3.bin for the V3 cam. NOT demo.bin like the support article says.
How to install the RTSP Firmware on Wyze Cam v3
- Download the Wyze Cam v3 RTSP file.
- Unzip the file (demo_wcv3.bin) and transfer it to a microSD card’s root directory.
- Unplug your Wyze Cam and insert the prepared microSD card.
- Hold the camera’s Setup button while plugging in the USB cable and continue to hold the Setup button until the light turns solid blue/purple.
- Once the light is solid blue, release the Setup button and wait for 3-4 minutes. The camera will reboot, and the status light will change during this time.
Note: The “Solid Blue” in this case is not the same as the one normally seen on the camera. Instead, both the blue and yellow LEDs will be on at once, making it appear to be a lighter blue. - Once this process is finished, you should see flashing red lights. Quickly tap the Setup button and go through the setup process in the app.