Apple Watch 3 rebooting constantly

My apple watch 3 has a problem receiving calls since update 7 started. When I answer the call, I can not hear anything on the watch and the iPhone continues to ring. Update 7.0.3 did not help, it happens randomly once it works once it fails. I have already tried to restart the watch to factory settings 3 times and nothing. What could be the reason?

watchOS 7.0.3 released today specifically to fix this issue. Only series 3 watch users will see this update, no one else.