Is Pulse Ox accuracy on Venu 3 supposed to be accurate?

Mine is terrible, not even close to what my Apple Watch or fingertip monitor read. Consistently high by 4-5 points. I'm beginning to wonder if I have a defective watch. Only two green lights flicker, are you supposed to see any of the other sensors light up as well?  I love the watch, but this might be a deal breaker for me.