Where packages are co-dependent you need to install them together like this:

# rpm -i glibc-2.17-105.el7.i686.rpm glibc-common-2.17-105.el7.x86_64.rpm 

Yes, the 64-bit version of glibc-common satisfies the 32-bit glibc dependency. It can’t however be a noarch package because it contains “common binaries for the GNU libc libraries, as well as national language (locale) support” — which means that its contents vary on each architecture where it is built.

RHEL 8 and its derivatives only support 64-bit platforms, so the only scenario in which you can install glibc.i686 is as a 32-bit variant of glibc.x86_64. The resolver will consider “main architecture” packages if a same-architecture dependency isn’t available; in this specific case, the dependency will already be resolved anyway, there won’t be anything more to install.

I was able to find the solution. After learning a little me more about the platform, the command required to downgrade the glibc package is:

yum -y downgrade glibc glibc-common

In my case, it downgraded glibc from 2.17-260.el7 to 2.17-222.el7.

This method can be apply to any package as long it exists in your repositories. You can double check the different versions for a specific package with the command:

yum list --showduplicates <package_name>