This is a clone of issue
OCPBUGS-14633. The following is the description of the original issue:
https://github.com/openshift/hypershift/pull/2437 created a binding between HO and CPO as a CPO that contains this PR crashes when deployed by an HO that does not.
The reason appears to be related to the absence of the OPENSHIFT_IMG_OVERRIDES envvar on the CPO deployment.