Just received the Watch 5 Pro January update. Main highlight for me is the diagnostics feature which seems to work very well on my S22 Ultra.
@Lordlinley: If you have installed the latest update for your Galaxy Watch 5, as per the above, then please ensure that you have updated to the latest version of the Samsung Members and Galaxy Wearable apps via the Galaxy Store > Tap the 3 lines in the bottom right > Updates. If you're up to date, head to the Samsung Members app > Support > Diagnostics > Connected device diagnostics.
I got the update on friday for my UK watch 5 Pro WiFi only version , try to update via the watch settings if not try wear app on your phone . Think LTE gets the update after the WiFi version historically .
I have this firmware since last Friday and I'm really angry. Wake on wrist raise function works not properly. When you raise arm, screen may blink for less than a second, often several times, and then works correctly (screen lights ca 5 seconds) and...again blinks for a second. Users from local Samsung Community (Poland) confirm this bug. Resetting the watch didn't help.
P.S. I can't report this error via Wearable app - requires granting permissions, but I've granted all of them.