iPhone keeps asking to set up new watch, even though it’s already set up

I have an iPhone 14 Pro and Apple Watch 6 (both with software up to date). Every so often my iPhone pops up to set up a new watch, even though my watch is already configured on this phone and working fine. There’s no other watch in the vicinity.

I’ve tried unpairing and re-pairing the watch but it’s still happening. It’s getting annoying now.