No, it must be connected to the internet.
However, you can use a Wi-Fi network connection to set up and configure your Wyze Cam in the Wyze app. Once the camera is configured with a microSD card inserted and Local recording to microSD card turned on, the camera will continue to continuously record to the microSD card, even when it is offline.
When your Wyze Cam is offline, you will not be able to connect to the camera via the Wyze app to view the live stream video or change any of the camera settings. The camera also will not save any alert videos to the cloud, so none of the motion or sound detection features will work.
To view your recorded footage, you can either bring your Wyze Cam back to an area that is covered by the Wi-Fi network it was set up in and use the Playback feature in the Wyze app, or remove the microSD card from your Wyze Cam to view the raw video files (mp4 format) on a computer. When you return the microSD card to your Wyze Cam, it will resume continuous recording. The camera supports up to a 32 GB microSD card, which holds roughly 2-3 days of playback recording. As it maxes out in space, it will overwrite the footage of the oldest day on file.
So while the camera can do offline recording, it is not its optimal purpose.