Apple Watch Ultra playing up since Update to 10.4

Hi everyone, so my Apple Watch Ultra auto updated to IOS 10.4 the other day and ever since has not been operating well. It constantly restarts, doesn't seem to be tracking my fitness activity correctly, appears to lose sync with My Contacts from my phone when I get messages or calls. I have tried unpairing with my phone. I have tried erasing my watch settings and setting up the watch up as a new device etc. I have removed all third party apps and have restarted both my watch and phone when performing all these functions.

I was wondering if anyone had any advice or tips that could help me resolve this issue?

My Iphone is a 13 mini and is also running the latest IOS (17.4).

I've had no issues with the Ultra before this update.

The only thing that is a little out of the ordinary for me is that I have security work protected apps on my phone, but. I can't think of anything else that may be causing the issue.

I searched online but can't see anyone who is having the same problem with the new update.

Any help will be greatly appreciated.

Thanks.