Why is the Training Bezel missing on my Apple Watch Ultra face?

I have a newly purchased Apple Watch Ultra 2 running watchOS 11.0.1 paired to an iPhone 14 Pro running iOS 18.0.1.

Within the Watch app on iOS when editing or configuring a Modular Ultra watchface the “Training” Bezel is not showing (only none, seconds, depth, and elevation). I can set the training Bezel on the watch itself when creating/editing the watchface, however as soon as I open the watch app on iOS it reverts to seconds.

Restarting both phone and watch doesnt do the trick unfortunately.

Is there a way to reinstall the watch app on iOS without unpairing and deleting the watch in the process? What other things can I try?

[Re-Titled by Moderator]