Thanks for trying!
I just confirmed the same thing with a test phone and older Watch 47. I tried current v3x and older v2.50x apps, and both show that they’re initiating paring (and the Watch displays this as well), but then they fail almost immediately. This is reproducible, even after rebooting the Watch.
I suspect that something is broken on the server side since this is happening even in older app versions, so what I suggest at this point is that people experiencing this issue generate a log immediately after the failure happens and then follow that up with a ticket (as I noted above) to try to get this on Wyze’s radar. This is also something I’d consider adding to fix-it-friday if/when that becomes a monthly topic again.