Heart Rate Monitoring stopped working

Garmin 245 is barely one month old and since yesterday HR monitor has stopped working. In HR widget, I see only three dash instead of reading ---.

I have checked all settings- HR recording is on. Activity tracking is on. I switched these on/off to see if this revives HR. No result.

I have tried restarting watch multiple times. Green light blinks for a moment and later no actively.

Done soft reset on watch- no result

During these efforts it came to life once and started showing HR readings but soon went dead after few seconds.

I have seen multiple treads saying their HR monitor is dead.

My software is 3.10 and seems in India 3.70 version is yet to be available.

Is this defective watch or software issue? Any solutions?