Probably not yet. The current Qualcomm 5G modems use more power than LTE. If Apple can developer their own 5G modem and integrate it with the SOC, then you will likely see 5G on the watch.Any word on whether the Series 6 Cellular will be 5G? I guess it would be kind of pointless since you aren't going to be streaming 4K video over cellular on your Apple Watch, but just wondering if Apple might throw the 5G chip in there since the iPhones are all going 5G too.
In the meantime, what would be the benefit of 5G on a watch?