Apple Watch Support

Hi!

My watch has a notification that says the following:

"Too Many Passcode Attempts Reset Apple Watch and pair again"

I have tried the following reset options:

1) Reset Home Screen Layout

2) Reset Sync Data (didn't appear to work?)

I am hesitant to select the following:

A) Erase Apple Watch Content and Settings

I am curious if I pick option A, will that erase all of my exercise and award history? I was really hoping there was a way to avoid an option that does erase everything. I know my password, but somehow got locked out of my device without resetting... any thoughts or suggestions are welcome!

Best,

Whitney