It did, I posted earlier today that I’d noticed that all my achievements had disappeared but I had all my ring history, just looked again and they’re all back now so not sure what’s happened there
transfering an Apple Watch over though is always hit and miss I find no matter how you do it, so don’t take this as golden 😅
I wore it throughout the transfer and didn’t disconnect it or anything from the original phone, and then it eventually said do I want to use the watch with my new phone, pressed yes and that was it.