This appears to be another issue with Wayland and accelerated video decoding.
The solution I found for Wayland users is to disable the accelerated video decoding, e.g.:
./Vesktop-1.6.3.AppImage --disable-accelerated-video-decode
Or, alternative, return to using X11.
Hmm - does it not start at all or what is the problem you face?
The 1.6.3 Vesktop AppImage is only - at time of writing - a few days old - and it runs without further command line arguments a my end.
Perhaps it is related to your system - are you by any change using Nvidia GPU - your profile says so, but is it up-to-date?
I - vaguely - recall - not so long ago - reading somewhere that Intel GPU could cause issues with browser based hardware acceleration.
And vesktop, being an electron app, which is the very definition of a browser based application.
But all that is purely guessing as you provide very little context.
I have vesktop-bin 1.6.3-1 at 31.85 MiB which has been reliable since I started using it a year or two back (on Wayland too, but with APU Ryzen 5600G for graphics).
I think it may be a Wayland/Nvidia driver compatibility issue, which I neglected to mention I’m using the proprietary Nvidia driver (Driver Version: 580.119.02 CUDA Version: 13.0) in my original post. I just wanted to provide a solution I found in case anyone else needs it. Here’s the errors from executing the appimage in the console:
libpng warning: iCCP: unexpected zlib return code
libpng error: unexpected zlib return code
libpng warning: iCCP: unexpected zlib return code
libpng error: unexpected zlib return code
Checking for update
Vesktop v1.6.3
Enabled Chromium features: AcceleratedVideoEncoder, AcceleratedVideoDecoder, AcceleratedVideoDecodeLinuxGL, AcceleratedVideoDecodeLinuxZeroC
opyGL
Disabled Chromium features: WinRetrieveSuggestionsOnlyOnDemand, HardwareMediaKeyHandling, MediaSessionService
⚠ [VencordLoader] Vencord version is outdated and does not support sandboxing. Please update Vencord to the latest version.
[173528:1227/194241.900553:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[arRPC > ipc] listening at /run/user/1000/discord-ipc-0
[arRPC > websocket] listening on 6463
[arRPC > process] started
[173528:1227/194242.246291:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194242.554717:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194242.900881:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
Update for version 1.6.3 is not available (latest version: 1.6.3, downgrade is disallowed).
[173528:1227/194243.245811:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194243.590721:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194243.760087:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194243.939262:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194244.083592:ERROR:content/browser/gpu/gpu_process_host.cc:999] GPU process exited unexpectedly: exit_code=139
[173528:1227/194244.083607:FATAL:content/browser/gpu/gpu_data_manager_impl_private.cc:415] GPU process isn't usable. Goodbye.
Mod edit: removed single backticks from each line of terminal output and inserted 3 backticks ``` on the lines before & after the complete output to make it easier to read
Consider reverting to either the Nvidia 570xx or 575xx series, for comparison. The 580xx are (now) known to have many issues across the board, and several advisory topics suggest to make this reversion.
Take some time to read through the respective Stable Update topics for further substantiating commentary:
That looks very strange - why would it require update when there is no update 
When you are using 580xx driver, you should know that it is less than good - at least that is what I read from various update announcements.
As suggested above it may be better to use 575xx.
Depending on the current state of your system - especially relating to the linux-meta package - the steps are a little different.
First remove the linux-meta and linux-nvidia-meta packages - you can verify that by running
$ pacman -Qi linux-meta
error: package 'linux-meta' was not found
If the result is different than above example, remove them
sudo pacman R linux-meta linux-nvidia-meta
Then remove the current driver using mhwd
sudo mhwd -r pci video-nvidia
To install the 570xx
sudo mhwd -i pci video-nvidia-570xx
To install the 575xx version of Nvidia driver for your kernel - the procedure is a little different - first you need to the currently active kernel.
Example
$ mhwd-kernel -li
Currently running: 6.18.2-1-MANJARO (linux618)
The following kernels are installed in your system:
* linux618
mhwd-kernel -li
Please adapt the driver install example for your system based the output on your system.
sudo pacman -Syu linux618-nvidia-575xx