The new pulse ox update is not currently supported with the beta build.I'm running the latest iOS 26 Beta and the latest watch OS and the health App still doesn't have any readings after the day I upgraded to Apple Watch 10.
The option to turn on blood oxygen recording in the Watch App is still greyed out and the link for more information takes me to a page dated 8/14/25 that tells you that it's in the Health App, so it's contradicting what the Health App says. Perhaps they're rolling this out in phases?