A lot of things changed.
You are now using the Wear OS 6 version of the app, which is based on WatchFaceFormat: This is Google’s requirement.
Watchface’s settings are now located directly on your watch: Hold your finger on the screen while the watch face is displayed, and then hit the customize button on the preview.
If you are premium, the widgets and shortcut management will be available.
Concerning the top right side, it displays a MANAGE shortcut which is dedicated to the watchface’s management app. It can no longer be customized.
Unfortunately, this new format is restrictive, and can not support all the features that were previously packed on Wear OS 3x/4x version.
It is restrictive on possibilities, but also on the max amount of customization / combination that can be set on a watchface (even if it might sound like nothing, the system tries to compute a full map of all possibilities, which is why it is kind of limited: the watchfaces offer a lot of settings and that implies a lot of possibilities).
I apologize for the inconvenience.
I did my best to migrate the design and all the features I can 🙂
If you need any assistance, feel free to contact me by email (instead of putting a bad review :p)
I hope that you will like it!