Agree with the previous posts, we need more information. I couldn't find any other examples of users seeing that screen, and I consider my Google-fu skills to be pretty good...even did a reverse image search.
My interpretation of that image is that the watch is no longer connecting to an iPhone anymore or isn't paired. Did this just randomly start showing one day, or are you trying to pair the watch to an iPhone? Does it show all the time, or only when you do something specific? Do you have Bluetooth enabled on your phone? What watchOS and iOS versions are you using? (WatchOS versions require at least a specific iOS version...meaning that you can't use newer watchOS versions with older iOS versions. For example, can't use watchOS 9 with iOS 15, or watchOS 8 with iOS 14, and so on.) Did you recently get a new phone or wipe your existing one, but didn't re-pair the watch? This is just all speculation/ideas on my part.
Best bet is to reset the watch and set it up again, as Crowbot mentioned.