Apple Watch Monthly Challenges and Trends

I cannot seem to find a straight answer for this, so I hope you all can help. I have had my watch for almost 4 years (yes, it's old). I don't even remember the last time I got a monthly challenge, but the last one I completed was in July of 2020... I tried all of the recommended steps with the one exception of repairing my watch and resetting it as new. I can't stand the thought of losing 4 years of activity data.

I realized the other day that I went a while without wearing my watch and I don't have any trends data. It says I need to wear my watch for 180 days to start getting trends. Before I restore my Watch and lose 4 years of data, could this be the reason why I'm not getting monthly challenges?

So I guess my main question is: Do you need to have trends before you can start getting monthly challenges? That would mean it would take SIX MONTHS of using it regularly for monthly challenges start to populate?

Thank You!!