Doesnt work for me at least. I installed watchOS 5 on two other watches, but on my business partner we got the Apple LOGO freeze. I tried doing hard restarts (5 in fact). We UNPAIRed the watch from iPhone - did all of this on the charger. In fact, we even just left it on the chager all night hoping it would "find it's way home", but alas it did not.
So now the iPhone is asking us to "pair" a watch. The watch is still stuck omn the logo. And all suggestions, including this one, has failed to clear the logo. I know this is in a GREEN BOX which is supposed to mean "this one works - end of story!" and maybe it did for some... but it just doesn't for some of us.
Those of you who are still stuck with the LOGO, you're not alone. We're still working on it, but I'm guessing in the end it's going to make the 4 day treck to Texas where they send our Apple Watches here in Arizona anyway.