multipass indeterminate state with Ubuntu

I'm using multipass to get an ubuntu instance working. I've got it working well on my MacBook Air M1.

I had it working well on my Mac mini M2.

I used a simple naive approach in both:

multipass launch -n <name>

It worked well. Now, on my Mac mini, it stopped working. I've tried more complicated launch options, such as:

multipass launch -c 2 -d 30G -m 12G -n horus --mount /users/peterbrooks:/mnt/peterbrooks --cloud-init ~peterbrooks/Downloads/ubuntu-22.04.3-live-server-arm64.iso --cloud-init '/var/root/Library/Application Support/multipassd/qemu/vault/instances/cloud_config' --network name=en0

I now get the same result:

multipass list
Name                    State             IPv4             Image
horus                   Unknown           --               Ubuntu 22.04 LTS

Looking at the logs, I find that they are waiting for SSH.

What has gone wrong? I've tried the naive approach again, several time, and also the more complicate approach, but I end up with the same problem.

I've not done anything obviously different on my Mac Mini M2. What am I missing?