I was just about to post about this. So good to see I'm not the only one noticing it. Is anyone else experiencing the same? I'm on watchOS 8.4 but this has been happening prior to upgrading to latest. I'm on a series5. Also with AirPod Pro's paired.
Restarting the watch brings it back, but it's very brief. Is it something we're missing where it's only supposed to be available at certain times or the iCloud service having issues with this service?
What I do find works, is if I open the fitness+ app on iPhone and then go back to the watch, audio meditations show up again. It's very strange.