IOS 18.1.1 has cut my bluetooth to my iWatch 9

Did you try to force restart by pressing and holding the Digital Crown and the Side button together for about 10sec, until the Apple logo comes back again?

Also force restart your iPhone:

Force restart iPhone - Apple Support

To update your watchOS, you will need a Wi-Fi connection:

...

1. Make sure that your iPhone is updated to the latest version of iOS.
2. Make sure that your Apple Watch is at least 50 percent charged.
3. Make sure that your iPhone is connected to Wi-Fi.

Keep your iPhone near your Apple Watch throughout the update. It could take from several minutes to an hour for the update to complete, so you might want to update overnight or wait until you have time.

...

copied from: Update your Apple Watch - Apple Support

Since 18.1.1 I've had bluetooth issues between my iPhone 13 Pro Max and Beats Fit Pros. It seems to know I have them out but never switches to them for audio. If I go to bluetooth settings and try to connect to them I get the same spinning followed by similar could not connect. I have mostly been having to restart my phone every time and it works for a little while. Then it will repeat the same problem. I just tried forgetting and reconnecting my earbuds during this last instance, but it wouldn't even let me connect them. Once again, I had to reboot my phone to get them connected again.

Did you try to update the watch without the iPhone, which is explained in the second part "Update directly on your Apple Watch", of the blue linked article above?

@jrkoons1

Did you try to install iOS again on your iPhone?

Restore your iPhone, iPad, or iPod to factory settings using a computer - Apple Support

Glad you were successful, time to enjoy your watch again 🙂