Watch 7 - January Update Killed Bluetooth

[TheManCaveVideo]

Both my wife and I's Watch 7 LTE devices got the January update and it has killed the bluetooth connection.  It now wants us to transfer the watch to the new phone (the S24 Ultras we were already using) or to reset the device and connect to the phones.  The phone will detect the watch but fails when pairing like the bluetooth is just really unstable.  I have tried multiple reboots of the phone and watch.  I have tried initiating the connection from the watch to the phone and vice versa.  Any ideas?  Google search show's it's an issue but no solutions so far.

[Robin621k]

Try wiping cache partition on the watch first, instructions in the photo.

I have no problems with the update!