The FCC has confirmed that Realme will launch its first-ever round wearable, the Watch S Pro, soon. Further similar leaks indicate that there is also a vanilla variant that may debut alongside it. This Watch S may have the same circular case, IP68 rating and heart-rate tracking, but packs a smaller battery.
https://www.notebookcheck.net/Realme-will-launch-2-versions-of-the-same-upcoming-smartwatch-new-leaks.494794.0.html