I thought he would have given his farewell address in 1797.
I was going to say that he gave it then because Congress wasn’t in session all the time, like it pretty much is now.
But in fact, it wasn’t a speech, but a letter sent to a Philadelphia newspaper in September 1796.
My guess is that Washington wanted to indicate clearly that he didn’t want a third term and give the country advice that it should take into account in selecting his successor.
I suspect he wanted to leave office quietly, without actually addressing Congress and making his a big deal about his departure, but maybe somebody else knows more of the details.