The rchos image used for IBM Cloud IPI installs is provided via custom image import. The current centos-8-amd64 os type is being set to a better os type of fedora-coreos-stable-amd64. A correct rchos os type will be set once support is added. The support being the ability to set os type to rhcos on a custom image. That support should be coming soon (likely in time for 4.11).
Note: the actual image being used IS a RHCOS image. This is an os type labelling issue due to having to import it as a custom image for usage on IBM Cloud VPC.
Since the problem described in this bug report should be resolved in a recent advisory, it has been closed with a resolution of ERRATA. For information on the advisory (Moderate: OpenShift Container Platform 4.10.3 security update), and where to find the updated files, follow the link below. If the solution does not work for you, open a new bug report. https://access.redhat.com/errata/RHSA-2022:0056