FYI- after 9/2024 update restart phone and watch to improve/reinstate settings.
I recently updated all of my apple devices and I too was having difficulty with the previously simple act of controlling the volume, story, and other functions. I was praying it was not a new “upgrade” they did because I have horrible insomnia but I followed the advice of someone else and restarted my phone and watch and it worked. Volume is still a little slower than I prefer but that could be my signal. Thank you to the one who stated the solution for the 2023 update and it still works on the 2024 update as well for those less mechanically inclined like myself.
Apple Watch Series 7, watchOS 11