The show began development in June 2022, so there wouldn't have been any COVID related delays. Looking over the show's Wikipedia page, development was interrupted due to the strike in 2023 and some indecision following Marvel's shift to doing their streaming shows with a multi-season approach as opposed to single season miniseries they had mostly been, and indeed Wonder Man had originally been conceived as. So while it may not have had the smoothest development, the issues it faced were the result of an industry wide shutdown and restructuring done at the studio as a whole with nothing specific to this show itself. Making it inappropriate to declare it a doomed failure just because its airdate has been postponed by a month.
