I can't say for certain, but your report suggests there might be a conflict between the third party metal bracelet and the ECG function. Logic for my opinion as below:
Your heart generates tiny electrical signals which can be measured by the electronics. The ECG sensor has two components, an electrode on the back of the watch which detects the voltage in your watch arm, and another sensor in the Digital Crown which uses finger contact to detect the voltage in your non-watch arm. Together your two arms behave in the same way as the two input wires on a voltmeter, the detected voltage can be amplified to produce the ECG tracing.
Untested, but I think what might be happening is that the Digital Crown is electrically connected to the watch body (but not the watch back electrode). The third party strap is electrically conductive with a big contact area, so the signal from your non-watch arm is short circuited to your arm very near the watch-back electrode and the ECG circuits see the same signal from both sides, no difference between them (probably micro volts or less anyway) so ECG flat line!