I WAS UPDATE MY APPLE WATCH AND I HAVE RED EXCLAMATION MARK

I have the same red exclamation mark after update. Is it resolved for you?

If the forced restart doesn't work then you have to send in your watch for a mail in repair.

Fore restart did not work. I got an appointment with Apple technician to check the issue. Do they charge for mail in repair? I think this is happening after an automatic update

They will charge for the repair if one is needed.