A GPS only Apple Watch can pair with any iPhone 6s, SE (1 or 2), 7 or newer iPhone. The GPS only version does not need a cellular plan, as it will just piggy back off of the iPhone's cellular radio as long as your iPhone is nearby. And nearby is say within the same 3-4 bedroom home with typical wood frame construction.
The GPS model can do Everything the cellular model can do, again as long as your iPhone is nearby, including receive/make phone calls, send/receive messages, play music, etc...
The cellular model can leave the iPhone at home and still do those things.
Read the following
https://support.apple.com/en-us/HT205547
and pay attention to the footnotes.
A cellular Apple Watch shares the iPhone's phone number, and must be supported by the carrier to provide this sharing. The carrier in turn, will charge a monthly fee. In the U.S. the fee is $10 per month added to your iPhone cellular bill.
If your iPhone has Dual SIM support, you can add your own cellular line to the eSIM and pair your Apple Watch to that personal number. But it will be paired to your personal number. Also the cellular carrier has to support the iPhone eSIM AND support the Apple Watch. I guess if you can switch your corporate number to the eSIM and use the physical SIM for the personal line that would maybe give you more flexibility.
But you are not going to be sharing the corporate line with the Apple Watch, so I know that if the iPhone is not nearby, you are not going to get any corporate phone calls or messages on the iPhone.
What I do not know, is whether you will get corporate phone calls and messages when your iPhone is nearby, or if it is solely paired to your personal number.
But if you have to have your iPhone nearby to get corporate stuff, you might as well just get a GPS only model and not pay for a more expensive Apple Watch a more expensive personal cellular line, plus a monthly fee for the Apple Watch.
Apple Watch/iPhone Dual SIM information
https://support.apple.com/en-us/HT209043
https://support.apple.com/guide/watch/use-apple-watch-with-dual-sim-iphone-apd641d0e7f1/watchos