"initState" is already a method intended to set the state the first time state class is instantiated, so there is no need to assign ratio = widget.ration inside a setState statement (and you're probably getting an error).
Also when you're declaring _chewieController = ChewieController the ratio is still null (Dart doesn't have primitive types, int and double are objects and their default value is null, not 0).
It seems what you want is to update your state whenever ChewieListItem is rebuilt with a new ratio passed as argument. In that case you need to override didChangeDependencies and inside that you can reassign ratio=widget.ratio (again, no need for setState because didChangeDependencies runs before build) and maybe update your controller accordingly, as it seems to need the ratio.
didChangeDependencies is called every time your widget is rebuilt with a new configuration (new arguments, like a new ratio), it's the Flutter way of saying "hey state, your parent widget changed, so maybe you want to get it's arguments again to update yourself". initState is only called when the state is first created while didChangeDependencies is called if the state is maintained but widget that owns the state changed. didChangeDependencies is also called after initState the first time so you probably can just move your code there.