Change Apple ID iCloud Location to Apple Watch

I just wanted to share what I learned today as I had seen similar several old threads about this, but they were locked and I was unable to reply to them. So I started this thread for posterity's sake.

My children have iPads and we just got them Apple Watches, which were configured using Family Setup. The default location for my daughter's iCloud location was configured for her iPad, which doesn't typically leave our house. I wanted to configure her default location to be her Apple Watch which is much more likely to leave the house with her. I was able to track her Apple Watch location from the 'Devices' tab of the Find My, but her iCloud location on the 'People' tab was displaying "No location found" as it was tied to her iPad which was at home and turned off. After much frustration and a support case with Apple, I finally found a button in the Find People app: Find People > Me > Use This Apple Watch as My Location.