Having gone down similar paths for some other people, some considerations…
I’d consider another solution and preferably one with a longer-life battery, if there is a likelihood the person might be forgetful around wearing and about charging the Apple Watch.
If eyesight is possibly an issue, it’s also potentially harder to see and harder to control Watch. Including for making an emergency call, or for cancelling an unnecessary or mis-detected call.
And if you really do want to go with Apple Watch here, and particularly with no paired iPhone, get the cellular model and use Family Sharing to manage it.
Particularly if there is no Wi-Fi, or if Wi-Fi is unreliable, check whether local cellular coverage in the residence and nearby is adequate for Apple Watch, too. Watch cellular might not be (is not) as sensitive or as powerful. If Wi-Fi coverage is available and reliable inside the residence, this is less of a factor.
Fall detection requires a comparatively hard fall, and—though probably not an issue for this case—some activities can produce erroneous fall detections.