I would imagine that guys and gals behind the scenes are still working their butts off to make something happen.
But realistically, what can happen?
Wasps won't be playing in the Championship for the coming season.
The only other option is to play either at the bottom of the pyramid, or at an intermediate level that would be agreed with the administrators of that level. Not sure how Wasps could show they should be at level 5 for example without having a squad of players that had played some matches so their strength could be assessed.
The option to re-integrate with the Amateur side seems to be a none starter given the Wasps FC AGM report given on the DWs site.
Technically I don't think its too late to play at level 10, plenty of clubs at the level will be wondering if they can get 15 players together regularly enough but you would expect to have heard something by now, either officially or not.
I had a discussion about all this with some guys who know a lot better than me, at my local club.
Whatever is agreed between league admins and Wasps, the RFU have to approve it. It seems that, below a certain level, the RFU simply roll with it (whatever the admins of a league decide). Each league needs (wants, or is required to have) 12 clubs. Given the amateur status of all clubs (in these leagues), the major issue is getting a squad together for the following year of a good enough skill and ability level to compete. No one wants to promote a club that simply can't compete, and no one wants to relegate a club that would overwhelm the teams below them. The same can be said for a new team asking to join a league.
So, IF Wasps has already got a decent squad together, the admins of Level 10 would likely say NO, play in a higher league. Wasps can only join if there is space in any given league. Clubs sadly, fold every year, for all sorts of reasons. Lack of players, lost their pitch, finances, mergers, etc.
By now the leagues and dropouts will be known. Those leagues will be looking to fill spaces, or might accept growing a little.
Those who I discussed this with suggested that the RFU would simply say no if Wasps wanted 'in' too high. Most agreed no higher than tier 5 would likely be the RFU response.
I am making a Henley based assumption here. In the 2023 season local to them,
Level 10 is Counties 4 Midlands West (South) with 10 teams and 2 vacancies
Level 9 is Counties 3 Midlands West (South) with 11 teams and 1 vacancy
Level 8 is Counties 2 Midlands West (South) with 12 teams
Level 7 is Counties 1 Midlands West (South) with 12 teams
Level 6 is Regional 2 West Midlands with 12 teams
Level 5 is Regional 1 Midlands with 12 teams
Level 4 is National League 2 West with 14 teams
My local club is Stratford-upon-Avon, who are at level 6 (above). The guys there say it is quite a step up to Level 5, and for now they are happy at Level 6, but they are working towards trying for promotion in the next couple of years. Nobody has heard of any club dropping out for next season in these leagues. Based on watching Strattie play this year, it would take very little for Wasps to compete at that level.
If you look at every league, it appears that some have, or have had, 13 or 14 teams.
For example, the local Level 4 league had 14 clubs last season.