When I track my Apple Watch Series 7 it says no location found on my iPhone 14

You don't say whether you are just checking, or if your watch is missing.

If the watch is still in your possession and you are testing the Find My function, consider the following;

The Apple Watch needs to be powered up with adequate battery charge.

You must link a device to your Apple ID and activate in Find My while it is still in your possession. You can't add it after it has been lost or stolen.

If the watch is the GPS version (non-cellular) it is pretty much constrained to communicating through your paired iPhone, or known WiFi networks. Getting a location back to Apple's servers by routing through a passing third party iPhone will be a matter of luck and timing (it works for AirTag but I'm not even sure this is supported for Apple Watch).

If the battery is depleted or the watch is switched off, Find My will only display last known location for a limited period. 24 hours after the last location signal it will cease to be mapped.

If Find My was turned on, then you may just have to wait until another Apple device passes within Bluetooth range. When that happens the location of your watch will be updated on Find My.