Given the very minor changes from Ultra 2 in 2023 to Ultra 3 in 2025, I’d be SHOCKED to see an Ultra 4 before fall 2027. I’ve owned every Ultra model, and other than some extra battery life and ability to dim the screen farther in darkness, I notice literally zero on-wrist difference between them. I *might* notice if someone secretly switched me back to the Ultra 1 from my current 3? But I wouldn’t bet a lot of cash on that.