The first update is being pushed out to Pixel Watches, but don’t expect any wholesale changes. The update is outlined in a support page post, fixes a few bugs and also making Fitbit more prominent.

The November 2022 update includes bug fixes and improvements for Fitbit experiences and integration.

Fitbit integration setting is now available on the App’s home screen.
Fitbit is easy to set up through a single tap from within the Pixel Watch App.
Fitbit sync information is accessible from the home screen.

The roll out is expected to take a few weeks, so keep your eyes on the Pixel Watch App for the update coming soon.