I too have had notification issues not just with text's but any notifications, I've checked all settings several times, turned off all notification settings on my watch and still no notifications. Also, for literally at least three months, my ringer volume switches from Ringer to Silent Mode constantly, sometimes if I press one of the volume buttons it will switch to Silent Mode. I've reported this to Apple three or four times with every update!
When do long-term non-fixed bugs, especially when they effect crucial daily work, become a class action suit issue? I know we live in a very litigious society, however, these kind of bugs are not acceptable! What about those in emergency situation's where notifications can mean life or death...
P.S. I'm currently on 14.3 and as I type this, alerts appear, but there is no sound for any of them!