Unable to pair my Apple Watch with my iPhone says require a newer version of iOS

The image is pretty self explanatory.

What iOS version is your iPhone running? Settings ➜ General ➜ About ➜ iOS Version.

What Apple Watch model is this?

What watchOS version is the watch running?

Can you not update your iPhone? Settings ➜ General ➜ Software Update.

It appears you may have an older watch, which has an older iOS version not compatible with the iOS version on your iPhone. What Apple Watch do you own and what is its current WatchOS version?