Corrupted macOS recovery? -1008F error code

Hi,

So my 2019 Macbook pro with Intel chip was running macOS Sequoia, and I want to downgrade it to macOS Monterey as that runs smoothers. I think I made the mistake of directly wiping the entire Macintosh HD disk in Sequoia Disk Utility. Now, the Mac boots up to a folder with a question mark.

I have another M4 MacBook Pro, and I used that to create a bootable USB for the intel macbook on a micro sd card with a thunderbolt hub. I don't have a time machine backup of when the computer was in Monterey.

I tried the following (not in the particular order):

1. Starting up with Option + Command + R: goes into the spinning globe for about 10mins, then results in error -1008F (the Mac is already removed from Find My and iCloud account)
2. Starting up with Command + R: results in internet recovery? Then goes to -1008F again
3. Starting up with Option + Shift + Command + R: results in internet recovery, then goes to -1008F again
4. Holding Option while starting up, Installer for Monterey shows up, then goes into internet recovery again, then goes to -1008F again
5. Resetting the NVRAM
6. Plugging the computer to ethernet port, still results in -1008F

I've repeated these entire cycles for a few times already. All results in -1008F at the end. I'm suspecting that the local macOS recovery is corrupted? Since that when I start it up using Command + R it goes to internet recovery as well. Can't get it to startup in local recovery OS. I'm stumped. I've removed the Macbook from Activation lock (by removing from Find My app, I assume) and removed from my iCloud.

Any help please? Really urgent.