It seems that Garmin hopes to release multiple new smartwatches soon, such as the Venu Sq 2 and Vivomove 2. The pair will be joined by the Forerunner 255, Forerunner 255s, Forerunner 955 and the Instinct Analog, among others.
https://www.notebookcheck.net/Over-half-a-dozen-Garmin-smartwatches-leak-including-the-Venu-Sq-2-and-Vivomove-2.614523.0.html