Open the Settings app on your Apple Watch
Tap Clock
Tap +0 min
Turn the Digital Crown to set the time offset
Tap the checkmark to save
To change the displayed time on the watch face, use the Time Offset setting only
To correct the actual time, make sure your iPhone and Apple Watch are connected and set to the correct time automatically
On iPhone, go to Settings
Tap General
Tap Date & Time
Turn on Set Automatically
Restart the Apple Watch if the time does not update correctly