This serves as a minimalistic example on how to schedule and perform a background refresh including a background fetch task.

Developed and tested on watchOS 8.5
Regarding project settings, take a look at git commits to see needed parameters.

The fetch itself is delayed in a way so it can be coalesced by the OS.
In the simulator trigger some fetch action like icloud sync to perform the refresh here.
If the app has an active complication, this might be processed right when the task itself is running.

Note about the example:
The active refresh task needs to be stored in the delegate so it can be acknowledged only until after the background fetch is complete.
Otherwise the app would be put back to sleep too soon.
So be careful and only start one background task at a time as the other will be sometimes dropped by the system and tracking would get lost.

Uses the news items available for learning purposes from @twostraws