Reportedly, Google has set a date for the Pixel Watch's release. Likely also the date of this year's Google I/O conference, Google could use the launch event to showcase the finished version of Wear OS 3, an OS that it debuted at last year's event.
https://www.notebookcheck.net/Google-Pixel-Watch-Launch-date-for-Google-s-first-Wear-OS-3-smartwatch-revealed.594694.0.html