Long time nothing written here, but I like to give some comments.
I tried plywood too but do not get good results for a simple reason:
One layer is lengthwise, but the other has the wood grain across!
On wooden airscrews all the grain is in the lengthwise direction, but it do not make no sense, to produce such plywood.
=> so we have to make our own.
The second problem is the wood grain. We need in this scale very fine or better no grain, water channels and so on. So only some wood kinds are really usable. I still experimenting, but the best seems to be pear, boxwood and in general fruit threes, like cherry. Here I had some discussions with model ship builders, which helped a lot.
Some examples:

Pear and
Boxwood for a AXIAL:



Here I tried
Canadian maple and
sycamore, with acrylic brown in the wood glue. It shows more grain.

And even a four blade is possible, here for my D.H.2 Stripdown with two different pear veneers:


Raw shaping

And on the model:

Here one of mine on a picture of the Windsock Airscrew Special, the sentence with the skill is really true


Hope it helps!
Cheers,
Frank