According to the latest report, The Wear OS 4 Developer Preview is live! The first (64-bit only) emulator build is available right now if you have Android Studio Hedgehog installed. The build ID is TWD3.230425.001.E2 and it’s based on Android 13.
According to Google, some of the new features in the Wear OS 4 Developer Preview support the new Watch Face Format, support for Tiles 1.2 which brings platform data bindings (tiles that use platform data sources like heart rate, step count, or time are updated 1/s), support for tile animations, and built-in support for splash screens (a platform feature carried over from Android 12).
Wear OS 4 will also bring some nice user-facing enhancements, like the ability to backup & restore apps, device-to-device transfer of app data, syncing permissions for apps you’ve already granted permissions to on your phone, and general performance and battery improvements.
If you’re a developer, you can get started with the Wear OS 4 Developer Preview from this page.