Apple Watch won’t update keeps cycling back between verifying and preparing and then starts the update and when it says it’s done it asks me to install the update, help! I also can’t get my watch to pair again without doing the update

This could be a compatibility issue, if your iPhone is already running the current iOS 14. Apparently that version is not able to complete the update for a backlevel watchOS 6 any more. If that sounds like a match in your case, two options:

• Find an old iPhone with iOS13 or older on it and complete the pairing and update to watchOS 7.5 with that. Once that is done, you can re-pair the S3 with your own iPhone again.
• Contact Apple Support or visit an Apple Store and ask if they can run this update for you.