The contacts on your watch are pushed from your iPhone so it is probably only a display issue. What problem are you actually seeing?
The obvious first attempt would be a forced reset on the watch and the phone to clear any stuck applications. The brute force forced restart seems to be more effective than simple power off when there are problems.
How to restart your Apple Watch - Apple Support
If your iPhone, iPad, or iPod touch won't turn on or is frozen - Apple Support
If that doesn’t work I would normally suggest unpairing and re-pairing to reload the watch software. That is a long process so if you are intending to upgrade to iOS 12 and WatchOS 5 when they release next week I suggest you wait, and see what happens after the OS updates which might clear the problems. It seems almost pointless to reload the OS just for 2 days!