Are you playing it through Google Photos on the Z Fold?
We kind of have to ignore that this works on any Apple products other than to say that the video works, so not like it is a corrupt file or anything. If it worked on the Fold and now is not working on the S22 it sounds like there is something stopping it from playing vs it just won't play. Let's not forget that the S22 has the higher specs for everything vs the Fold line. While I agree that it is possible for there to be a peculiarity to the S22 behind this, I personally find that a hard pill to swallow.
Besides different devices, what have you tried?
If you haven't already let's do some cleaning. Clear the cache for Google Photos. Settings>Apps>Google Photos>Storage>Clear cache. In that same area you'll see Clear Data, I always like to do cache, test and then if it still doesn't work clearing the data. In this case clearing the data won't hurt but for some apps clearing the data means signing in again and reconfiguring settings and things like that. Google Photos likely won't skip a beat even if you clear the data, but just to be sure if you end up clearing the data, make sure your backup options are still enabled if that is what you're using.
Hopefully that gets it but if not I have one more. You've said nothing about trying a different app? I was going to suggest playing it in Safe Mode but after some testing I found that Photos doesn't work in Safe Mode. Safe Mode (SM) said that installed apps don't work but still played my video from the My Files app. In regular mode My Files offers app selections for playback, so it must have some kind of player built in to it but only uses it if nothing else is available??? Anyway just be aware there are actually two tests that you can try here. You can try opening it in regular mode from My Files and choose something that is not Google Photos as the player see if any of your other apps are able to play it. The other test would be to put the phone in SM and try to play it from the My Files app. This could be a helpful test if it plays in SM but no other way that would point towards the issue being a bad app.
We can worry about all of that after we get it to play.
Let us know if clearing the cache and/or data from Photos works or if playing it from a different app works, with or without Safe Mode.