After the recent update for the Apple Watch, Apple is immediately pushing a small update.
This is a bug fix: a document added to the wallet on the iPhone could not be found on the Apple Watch. This isn’t a catastrophe in everyday life, but it’s kind of annoying.
The small update should now fix the problem. By the way, the update to watchOS 8.4.1 is only available for the Apple Watch Series 4 and newer. You can trigger it manually via the Watch app on the iPhone.