i can't pair my apple watch

I have an apple watch 4 which hasn't been used for over a year.

When I'm now trying to pair it, it requires the watchOS to be updated.

This is where it fails..

I've tried it on two different iPhones, both running iOS 14.2.

The watch app says "your software is up to date", but from there, I can only tap cancel which brings me to the screen that says it needs to be updated again.

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