Considering that Jericho was openly mocking the EVP title as "mark" shit and saying he asked for extra money instead because he realizes there's only one boss in reality, I can understand why Cody wouldn't consider being an EVP a bargaining chip when it's a ceremonial title at best, and he was having - in his own words - personal issues with others he couldn't get past. At this point, with a new baby, he may as well chase the money and original dream of becoming the first Rhodes to win a World Title in WWE.
He can always go back to AEW, and - don't fool yourself into thinking otherwise - he would be welcomed back there with open arms after a few years away. Absence makes the heart grow fonder, and all of that...