apple watch red exclamation point showing www.apple.com/help/watch
followed the website but its still like that- with the red exclamation point
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If you see a red exclamation mark or a recovery logo see this video article
The process is suitable for Watch series 3 or later, OS 8.5 Onwards and iOS15.4 onwards only
https://www.youtube.com/watch?v=l3Y2TBTfHTI
With older watch or OS make a genius bar appointment to have it recovered.