I would like to share this as feedback,
previously we can manage our notification with this settings
To make your notifications even better, you can choose when and how you receive them.
Open the Galaxy Wearable app on your phone, and then tap Watch settings or the Home tab.
Next, tap Notifications, and make sure the switch at the top of the screen is turned on to receive notifications.
From here, you can select from the following settings:
Show only while wearing: Only show notifications on your watch while it's being worn.
Show while using phone: Show phone notifications on your watch while you're using your phone.
Turn on for new apps: Set newly installed apps to send notifications.
Tap See all notification settings to access these additional options:
Mute connected phone: If Show only while wearing is enabled, this option will prevent your phone from making a sound for notifications.
Show while using phone: Show notifications on your watch when you're using your phone.
Turn on for new apps: Turn on notifications for newly installed apps.
Show with details: Show the details of new notifications.
Turn on screen: Turn on the watch screen when you receive notifications.
Auto open apps on phone: Pick up your phone to open the relevant app automatically when you get notifications on your watch.
But now this is not available to New Galaxy Watch 4,
And I wanted to pointed out that this is much better compare to the settings set up that we have on Watch 4.
If possible make it available again.