The image is unable to be installed offline, log in journalctl suggests that curtin tries to install nvme-cli and nvme-stas and failed because these packages are not in the image pool.
Excerpt from journal log:
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Mar 11 14:42:02 ubuntu subiquity_log.3918[7006]: Running command ['unshare', '--fork', '--pid', '--', 'chroot', '/target', 'dpkg-query', '--list'] with allowed return codes [0] (capture=True)
Mar 11 14:42:02 ubuntu subiquity_event.3918[3918]: curtin command curthooks
Mar 11 14:42:02 ubuntu subiquity_event.3918[3918]: configuring apt configuring apt
Mar 11 14:42:02 ubuntu subiquity_event.3918[3918]: configuring apt configuring apt
Mar 11 14:42:02 ubuntu subiquity_event.3918[3918]: installing missing packages
Mar 11 14:42:02 ubuntu subiquity_log.3918[7006]: Curtin config dependencies requires additional packages: ['nvme-cli', 'nvme-stas', 'e2fsprogs']
Mar 11 14:42:02 ubuntu subiquity_log.3918[7006]: Running command ['dpkg', '--print-architecture'] with allowed return codes [0] (capture=True)
Mar 11 14:42:02 ubuntu subiquity_log.3918[7006]: Running command ['apt-cache', 'pkgnames'] with allowed return codes [0] (capture=True)
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Running command ['apt-cache', 'pkgnames'] with allowed return codes [0] (capture=True)
Mar 11 14:42:03 ubuntu curtin_event.3918.9[7009]: start: cmd-install/stage-curthooks/builtin/cmd-curthooks: Installing packages on target system: ['efibootmgr', 'grub-efi-amd64', 'grub-efi-amd64-signed', 'nvme-cli', 'nvme-stas', 'shim-signed']
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Skipping install of {'grub-efi-amd64', 'vlan', 'nvme-cli', 'efibootmgr', 'bridge-utils', 'grub-efi-amd64-signed', 'ifenslave', 'nvme-stas', 'shim-signed'}. Not needed on netplan system.
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: start: cmd-install/stage-curthooks/builtin/cmd-curthooks: Installing packages on target system: ['efibootmgr', 'grub-efi-amd64', 'grub-efi-amd64-signed', 'nvme-cli', 'nvme-stas', 'shim-signed']
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Updating apt sources in /target
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Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Running in chroot, ignoring command 'start'
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Get:1 file:/cdrom noble InRelease
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Ign:1 file:/cdrom noble InRelease
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Get:2 file:/cdrom noble Release [1,072 B]
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Get:2 file:/cdrom noble Release [1,072 B]
Mar 11 14:42:03 ubuntu subiquity_event.3918[3918]: Installing packages on target system: ['efibootmgr', 'grub-efi-amd64', 'grub-efi-amd64-signed', 'nvme-cli', 'nvme-stas', 'shim-signed']
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Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Running command ['unshare', '--fork', '--pid', '--', 'chroot', '/target', 'apt-get', '--quiet', '--assume-yes', '--option=Dpkg::options::=--force-unsafe-io', '--option=Dpkg::Options::=--force-confold', 'install', '--download-only', 'efibootmgr', 'grub-efi-amd64', 'grub-efi-amd64-signed', 'nvme-cli', 'nvme-stas', 'shim-signed'] with allowed return codes [0] (capture=False)
Mar 11 14:42:03 ubuntu subiquity_log.3918[7006]: Reading package lists...
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: Building dependency tree...
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: Reading state information...
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: Package nvme-cli is not available, but is referred to by another package.
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: This may mean that the package is missing, has been obsoleted, or
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: is only available from another source
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: E: Package 'nvme-cli' has no installation candidate
Mar 11 14:42:04 ubuntu subiquity_log.3918[7006]: E: Unable to locate package nvme-stas
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full installer log attached