Wizz Air changed my flight dates and now the return is before my event. What are my EU261 rights?

Booked a round trip with Wizz Air to Jeddah from April 16 to April 20 to attend the F1 race, traveling with my siblings.

Last week Wizz canceled the original flights and rebooked us on:

Outbound: April 15

Return: April 17

Problem is there are no Wizz Air flights after April 17 on this route until June, so the new return has us leaving before the event even ends, which defeats the entire purpose of the trip.

This also causes a bunch of issues:

Extra hotel night (original booking started April 16)

Visa was only valid starting April 16

Only alternative flights are with other airlines (€190 with a stop, €385 direct)

Wizz is only offering a refund, no rerouting on another airline and no compensation.

Since Wizz is an EU airline and the flight departs from the EU, doesn’t EU261 apply here? This feels like more than just a simple refund situation.

Has anyone dealt with something like this before with Wizz? Any tips on how to push for proper compensation or escalation?