Apple Watch setup issue

Hello I am trying to pair my series 3 Apple Watch to my iPhone 12 but everytime I try it tells me I have to update the watch I hit update and it says you must update your iPhone before you can update your watch I hit update and it takes me to me settings and in there it says I am on the latest update my only option from there is to Cancle and stop pairing watch I’m stuck in this loop anyone know how to fix this ?