My watch shows the exclamation point and won’t do anything when I go through the steps

For as far as I understand it correctly, you have followed all of the steps in this article If your Apple Watch shows an iPhone and a watch or a red “!” - Apple Support and that is to no avail? You still see the red exclamation mark on your watch?

Then there's something going on with your watch that you cannot fix yourself, please Contact Apple Support to set up a mail-in repair if your Apple Watch continues to show a red exclamation point.