So my first thought was that you are running kwin_wayland without the --xwayland flag - but startplasma-wayland should do that properly.
Then I went back and read the OP and I noticed that you never said what was wrong. Can you please expand on “cannot launch”? Do you get an error? what is the error text?
This is my output when I run winecfg from terminal
006c:err:winediag:nodrv_CreateWindow Application tried to create a window, but no driver could be loaded.
006c:err:winediag:nodrv_CreateWindow L"The explorer process failed to start."
006c:err:systray:initialize_systray Could not create tray window
0084:fixme:wineusb:query_id Unhandled ID query type 0x5.
0024:err:winediag:nodrv_CreateWindow Application tried to create a window, but no driver could be loaded.
0024:err:winediag:nodrv_CreateWindow L"Make sure that your X server is running and that $DISPLAY is set correctly."