Trouble resetting Apple Watch 3

I forgot my password to my Apple Watch, after not using it for a long time, hence it’s also not connected to my phone. I tried to reset it by long pressing the shut down to reset and erase everything on it.

Unfortunately, when it restarts after this, it hasn’t reset - nothing has changed and I still can’t pair it or do anything. It still says password tried to many times, try to reset (which obviously isn’t working).

I have tried multiple times and also tried to do a hard reset. Still the same.

Anyone has tried this before?