Ultra 2 will not make waypoint

Hi ShawnInDallas, 

Thanks for posting here in Apple Support Communities. Let’s make sure that your Apple Watch has the latest watchOS installed as this may help to address the issue you’re facing. See: Update your Apple Watch - Apple Support

We'd also suggest that you reset privacy and location settings in attempts to get the compass working as expected. Keep in mind that you may need to grant permission again to some apps. See: About privacy and Location Services in iOS, iPadOS, and watchOS - Apple Support

If you would like to reset all of your Location Services settings to the factory default, go to Settings > General > Transfer or Reset [device], tap Reset, then tap Reset Location & Privacy. When your location and privacy settings are reset, apps will stop using your location until you grant them permission.

Settings > Privacy & Security > Location Services.

Settings > Privacy & Security > Location Services > System Services.

Take care.

Resolved on mine. Reset location sharing. Then went to another watch face (was using modular ultra) that had the compass. When I selected it, I was able to enable location and immediately got Lat and Long. Went back to the modular ultra face and it's working fine now.

I'm having the exact same issue. I'm up to date and location services are all enabled.

This fix worked for me - all fine now.