It fails due to a LLVM optimization where a zero initialization of adjacent locals is replaced with call to memset function:
stderr ───
Error: Failed directives on tests/wast/wasmer/stack-overflow-sret.wast:
• instantiation failed with: Compilation error: relocation Relocation { kind: Unknown, encoding: Generic, size: 0, target: Symbol(SymbolIndex(6)), addend: 0, implicit_addend: false, flags: Elf { r_type: 110 } } targets unknown symbol 'Symbol { name: "memset", address: 0, size: 0, kind: Unknown, section: Undefined, scope: Unknown, weak: false, flags: Elf { st_info: 16, st_other: 0 } }' (1:1)