How to hard-reset Apple Watch Ultra without losing the ability to restore watch data from iPhone

Hi:

I have an Apple Watch Ultra whose battery health is at 97%. However, after an upgrade from watchOS 10 to watchOS 11, the watch battery charge does not last even a single day. Un-pairing and re-pairing the watch with the phone brought no improvement. At this point, I understand the next course of action is to hard-reset the watch... and here comes my question: When I (1) un-pair the watch from the phone and perform a hard reset of the watch by (2) putting the watch on its charger, (3) pressing the power button and then (4) pressing the crown and initiating the reset, will I be afterwards able to re-pair the watch with the phone and RESTORE ALL WATCH DATA (going back years; I would hate to lose them) FROM THE BACKUP STORED ON THE PHONE? My understanding is that this ought to work, but I do not want to perform the experiment and then find out I was wrong.

Any confirmation or correction in this matter would be greatly appreciated. Thank you in advance.