Problem in updating Watch OS 7.1 in Apple Watch series 3

Hi,

I am facing the problem in updating my Apple Watch series 3. Initial software version was 7.0.1. I have tried all the steps as mentioned on apple site like updating the watch through my iphone (OS 14.2), updating the watch standalone, updating the watch when fully charged on charger, unparing & repairing with iphone, resetting the watch, restarting both iphone & watch but of no use. The speed of internet connection is very good. I have tried to update the watch on 3 different wi-fi connections having very good internet speed.

I have faced the similar problem when I tried to update my watch to version 7.0.2 & later to 7.0.3. Now my watch is automatically re-starting again & again. Attaching the screenshot of the problem when watch is preparing the update. Please help ASAP.

Thanks

Naveen Jain