I found some sample code for combining UIImages (see below), but cannot use it because is uses UIImageView, which is not in WatchKit (although, it is kinda what I want to do). I am using Swift, not SwiftUI.
let bgimg = UIImage(named: "image-name") // The image used as a background
let bgimgview = UIImageView(image: bgimg) // Create the view holding the image
bgimgview.frame = CGRect(x: 0, y: 0, width: 500, height: 500) // The size of the background image
let frontimg = UIImage(named: "front-image") // The image in the foreground
let frontimgview = UIImageView(image: frontimg) // Create the view holding the image
frontimgview.frame = CGRect(x: 150, y: 300, width: 50, height: 50) // The size and position of the front image
bgimgview.addSubview(frontimgview) // Add the front image on top of the background