This is because according to multiple user complaints made on Apple’s website and the MacRumors forum, it seems that there are more than a few Apple Watch Series 3 owners who are experiencing various problems related to the update. According to the reports, users are experiencing issues like random reboots, lockups, complications that don’t load properly, and also sluggish performance.
Apple did release the watchOS 7.0.1 update shortly after watchOS 7, but it seems that the update did not address any of these issues. Right now, it also appears that this is a mostly Apple Watch Series 3 issue, and that other Apple Watches aren’t experiencing it. Personally, I haven’t had any issues with my Series 3 since the update, so your mileage may vary.
In any case, hopefully Apple is aware of these problems and that they are working on an update that will fix it. In the meantime, like we said, if you have yet to update to the latest version, consider holding off for now.