Official solution
\[y=\cos\frac{\pi}{3}\cos\left(\cos^{-1}\frac{x}{2}\right)-\sin\frac{\pi}{3}\sin\left(\cos^{-1}\frac{x}{2}\right)=\frac12\cdot\frac{x}{2}-\frac{\sqrt{3}}{2}\sqrt{1-\frac{x^2}{4}}.\]
\[\Rightarrow 4y=x-\sqrt{3}\sqrt{4-x^2}\ \Rightarrow\ (4y-x)^2=3(4-x^2)\ \Rightarrow\ 16y^2+x^2-8xy=12-3x^2.\]
\[\Rightarrow x^2+4y^2-2xy=3\ \Rightarrow\ (x-y)^2+3y^2=3.\]