so while this post wont help you, it shows that i actually did download the image separately and then did waydroid init with the option to specify the path to downloaded image
problem is: i did switch my laptop and doubt to more details available on the topic.
but if you would check waydroid init options you could start from there, same as i did
ok i did find two download adresses:
https://master.dl.sourceforge.net/project/waydroid/images/vendor/waydroid_arm64/lineage-17.1-20220514-HALIUM_10-waydroid_arm64-vendor.zip?viasf=1
i assume this is it, my working images … that’s all i can do for you
hope that helps