Fossile Gen 5 Carlyle connectivity issues

Hi peeps. I'm using Fossile Gen 5 Carlyle for two years and Samsung S23 for a year. This is going to be a long post but please help me guys.

For the last few months a lot of connectivity issues are coming. Like for example the Bluetooth disconnects randomly or even if the Bluetooth is connected my watch won't show any notification. So recently my watch was not connecting with my Bluetooth so I did a Factory format for both my watch and the wear os app on my phone. Then I tried to connect it. The Fossil gen 5 resets and these are the steps :

On watch

1.Tap to begin 2. Select Language 3. Connect with phone 4. Continue on phone

On phone/app

  1. Select google acount
  2. Agree and Continue
  3. Turn on Bluetooth connect phone
  4. Connected
  5. Transferring data

Now an error comes every time while Transferring data and it show me to reset and connect again and my watch gets fixed at continue on phone. Then again i need to do a factory reset and continue the same steps and this error comes again.

Ps. This happened with me a while ago and I uninstalled and reinstalled the app and the issue was solved. This time it didnt help

Do I need to buy a new watch? or I can do something about it.🥲