iPhone will not Ping from Apple Watch

I've just purchased an iPhone 16 and Apple Watch SE2. When I press the button on my watch to ping my phone, nothing happens on the phone even though it appears to be "pinging" on the watch. I have updated each device, unpaired and re-paired them and restarted both devices (before and after update). I can ping my watch from my phone and control music, etc. The only function that doesn't seem to work is locating (ping) phone from the watch (which is a feature I used to use regularly). I've also tried it in silent and not-silent mode and still doesn't work (but of course I want it to work in silent mode since that's how I keep my phone).