VLC Snap fails to launch due to missing Qt platform plugin

Snap 4.0.0-dev-21399-g7c64a9d27a fails to launch after installing in a fresh Ubuntu 22.10 box running Gnome Wayland, with the following message:

$ /snap/bin/vlc
VLC media player 4.0.0-dev Otto Chriek (revision 4.0.0-dev-21399-g7c64a9d27a)
[0000559dd2c56cc0] main libvlc: Running vlc with the default interface. Use 'cvlc' to use vlc without interface.
This application failed to start because no Qt platform plugin could be initialized. Reinstalling the application may fix this problem.

Available platform plugins are: eglfs, linuxfb, minimal, minimalegl, offscreen, vnc, xcb.

This application failed to start because no Qt platform plugin could be initialized. Reinstalling the application may fix this problem.

Available platform plugins are: eglfs, linuxfb, minimal, minimalegl, offscreen, vnc, xcb.

[0000559dd2d27f90] skins2 interface error: cannot instantiate dialogs provider
[1]    63328 segmentation fault (core dumped)  /snap/bin/vlc

I tried installing qt5-core22 and qt5-core20 snaps, but both these did not resolve the issue.