MacRumors published a story that Apple has released watchOS 7.4.

Apple Releases watchOS 7.4 With iPhone Unlocking, Apple Fitness+ AirPlay 2 Support

Apple today released watchOS 7.4, the fourth major update to the watchOS 7 operating system that was released in September 2020. watchOS 7.4 comes three months after watchOS 7.3, an update that introduced a new watch face, a Time to Walk feature, and expanded ECG availability. ‌‌The watchOS 7.4 update‌‌ can be downloaded for free through the dedicated Apple Watch app on the iPhone by going to General > Software Update. To install the new software, the Apple Watch needs to have at least 50 percent battery, it needs to be placed on a charger, and it needs to be in range of the ‌‌‌‌‌‌‌iPhone‌‌‌‌‌‌‌.

Apple Releases watchOS 7.4 With iPhone Unlocking, Apple Fitness+ AirPlay 2 Support