Hello djmoo,
Welcome back to Apple Support Communities!
We want to make sure the Apple Watch time is showing as you want.
Take these steps next to confirm the iPhone settings are correct:
"Check your settings
Check if you still need help after each step.
On your iPhone, iPad, or iPod touch
- Make sure that you have the latest version of iOS or iPadOS.
- Turn on Set Automatically1 in Settings > General > Date & Time. This automatically sets your date and time based on your time zone.
- If a message appears saying that updated time zone information is available, restart your device and any paired Apple Watch.
- Allow your device to use its current location to determine the correct time zone. To do this, go to Settings > Privacy > Location Services > System Services and turn on Setting Time Zone.
- Check that your device shows the correct time zone in Settings > General > Date & Time > Time Zone."
This Apple Support page has the full details: If you can't change the time or time zone on your Apple device - Apple Support
If the issue continues and both devices are fully updated, please reach out to an Apple Support Advisor for further assistance: Get Support
We hope this helps to get the Apple Watch time to show correctly when the iPhone is not nearby.
Cheers!