It seems the warning is there because useCallback (and also useMemo see below) expect inline function as argument (don't know why though).

So in the solution from the question:

const memoizedCb = React.useMemo(
  () => memoize((param) => () => someFunction(param)),
  []
);

they used useMemo to imitate useCallback functionality while also passing an inline function to useMemo as the warning required:

React Hook useCallback received a function whose dependencies are unknown. Pass an inline function instead

That warning is not specific to useCallback, you get same warning if you just replace useCallback with useMemo in the first example:

 // For testing
 // Gives same warning
 let memoizedCb = React.useMemo(
    memoize((param) => () => someFunction(param)),
    []
 );

As far as I know, the useCallback expects an inline function. If you pass a returned function from another function, eslint won't be able to figure out what are the dependancies of the function, so it will show this warning.

Here I think, eslint is failing to determine the dependancies of somefunction and thus it cannot evaluate the react-hooks/exhaustive-deps rule because to evaluate this rule eslint should be able to identify is there any dependancy like state, props for the function passed to useCallback hook. So eslint is asking you to pass an inline function which it will understand and can evalute for lint rules.

As a more general explanation the below will produce a warning:

const someFuncWrap = (fn) => (e) => fn(e)

const memoizedFunc = useCallback(someFuncWrap(foo), [someFuncWrap, foo]);

Changing the useCallback to a useMemo with an inline function passes.

const someFuncWrap = (fn) => (e) => fn(e)

const memoizedFunc = useMemo(() => someFuncWrap(foo), [someFuncWrap, foo]);

This is because to parse the hook eslint needs to see it in the following form:

useMemo(() => foo, [foo]);
useCallback((bar) => foo(bar), [foo]);