Yes it is with Verizon. You have to add your watch to your carrier account with a seperate # from your iPhone. You will need your IMEI number and E-SIM # (on sticker outside of box). Presently, this is the work around until Apple fixes the activation glitch. I was fortunate in having an unused # on my account, which I was already paying for. It took over 2 hours for the Verizon's associate to complete ( 4 unpairing /pairings) with numerous calls to support.
The only issue I have experienced has already been previously mentioned concerning no connections with unauthenticated WIFI's. It happened to me with Comcast/Xfinity hotspots. Once I disabled this wifi on my phone, the watch no longer had connection issues. Messaging, Phone and Maps worked every time.