A different approach using TikZ:
\documentclass[a4paper,11pt]{memoir}
\usepackage[utf8]{inputenc}
\usepackage[T1]{fontenc}
\usepackage{tikz}
\usetikzlibrary{decorations.pathmorphing}
\newcommand{\crossout}[1]{\raisebox{-0.2mm}{%
\tikz{\draw(0,0) node[anchor=west,inner sep=0,text depth=0.2mm](crossedWord){#1};
\draw[decorate,decoration={snake,amplitude=1pt}](crossedWord.west) -- (crossedWord.east)
}}}
\begin{document}
The most \crossout{powerful} processor in your \crossout{computer} is probably the graphics processor.
\end{document}
This gives the result below, and the size of the waves can be adjusted by changing the amplitude argument.

EDIT:
To draw two waves, the command below may be used.
\documentclass[a4paper,11pt]{memoir}
\usepackage[utf8]{inputenc}
\usepackage[T1]{fontenc}
\usepackage{tikz}
\usetikzlibrary{decorations.pathmorphing,calc}
\newcommand{\crossout}[1]{\raisebox{-0.2mm}{%
\tikz{\draw(0,0) node[anchor=west,inner sep=0,text depth=0.2mm](crossedWord){#1};
\draw[decorate,decoration={snake,amplitude=1pt}](crossedWord.west) -- (crossedWord.east);
\draw[decorate,decoration={snake,amplitude=1pt}]($(crossedWord.west)+(0,-1.5pt)$) -- ($(crossedWord.east)+(0,-1.5pt)$);
}}}
\begin{document}
The most \crossout{powerful} processor in your \crossout{computer} is probably the graphics processor.
\end{document}
This will result in the following output.

SECOND EDIT: After some misunderstandings about how the words should be crossed out, here is a TikZ-version to create an "X-type" crossout with wavy lines.
\documentclass[a4paper,11pt]{memoir}
\usepackage[utf8]{inputenc}
\usepackage[T1]{fontenc}
\usepackage{tikz}
\usetikzlibrary{decorations.pathmorphing}
\newcommand{\crossout}[1]{\raisebox{-0.2mm}{%
\tikz{\draw(0,0) node[anchor=west,inner sep=0,text depth=0.2mm](crossedWord){#1};
\draw[decorate,decoration={snake,amplitude=1pt}](crossedWord.north west) -- (crossedWord.south east);
\draw[decorate,decoration={snake,amplitude=1pt}](crossedWord.south west) -- (crossedWord.north east);
}}}
\begin{document}
The most \crossout{powerful} processor in your \crossout{computer} is probably the graphics processor.
\end{document}

soulposcan be used instead. – user202729 Sep 23 '22 at 08:05