A software update still wouldn't allow the spen to work on the watch since the watch doesn't have the required tech.
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S Pen functionality is not on the S Pen: it's on the device (the S-Ultra, for example). The only thing the S Pen has is Bluetooth for communication. The S Pen features on a device are built into that device's operating system. The reason an S Pen won't work on the watch is because the watch screen lacks the digitizer layer used to sense the S Pen.
