These steps will allow you to reset your watch whether you've incorrectly entered the passcode too many times, forgotten the passcode, or don't have access to your iPhone.

Specifically, Apple says that parents will now receive a notification when their Screen Time passcode is successfully entered on their child's device.

There's an update to Screen Time that lets parents know when a Screen Time passcode is used on a child's device, and there is support for carrier-provided satellite features on iPhone 13 models.

Screen Time notifications – The parent device now receives a notification when a child device enters the Screen Time passcode.