The only solution I found was to delete the Venu 2 device from Connect and start the pair process all over again from scratch.
After a master reset of the watch, make sure that you remove the watch from the Garmin Connect mobile app and the phone's Bluetooth menu.
How Do I Remove a Device From the Garmin Connect App?
Next, be sure to update the Garmin Connect mobile app:
Installing, Updating and Uninstalling the Garmin Connect App
Finally, follow steps in the FAQ below to re-pair:
Instructions to Pair a Garmin Fitness Device to a Smartphone