Apple Watch 10 Small spinning ring?

Apple Watch 10 showing a small spinning circle when I'm scrolling notifications, sometimes when I raise my wrist to check the time, when I'm doing a workout and look at my watch. It isn't the large circle with the Apple in the middle that happens during updates and reboots. It's a smaller spinning circle. It's been happening more and more often since an update a few weeks ago. Watch and phone are updated. Took it to Apple and store rep said they'd never seen a watch do that before, but when they see it in a phone it means a processor issue. It was sent to offsite repair but coded as Randomly shutting down or freezing by the in store rep. Repair is sending it back saying they couldn't replicate the problem. Anyone else experiencing similar?