In my case this condition is definitely the result of damage from type2 and is probably plaque. Hourglass is one of the forms of Peyronies in which the plaque is circumferential and doesn’t result in a curvature. My penis had no waist before my illness so it isn’t a natural condition.
This was only revealed while using a pump - using vacuum I can eliminate the waist at extreme pressures but have to be careful. This effect is temporary.
If it is plaque induced the treatments for Peyronies may address the problem.