the barometer is affected by temperature. pedaling and keeping the watch on the handlebar the temperature remains constant and the altitude is correct, when you run and hold your wrist the temperature…
You did Settings/Sensors/Altimeter/Calibrate, in order to calibrate barometric altimeter with GPS setting and/or you own input?
Be aware that a barometer altimeter is good when it comes to measure RELATIVE height, as long as the weather doesn't change much. However, it won't have an accurate ABSOLUTE height without calibration, because this depends on current barometric pressure and therefore on the weather situation. That's physics, not bad software ;-)
Or you could buy a Garmin with a barometric altimeter that works properly such as a Fenix 5 Plus or 935.
Did anyone ever hear of a fix or even get an answer for the 'sawtooth' elevation graphs that I still get from my 645? Garmin's suggestion was to replace the watch (for the 2nd time!) just like they suggested replacing the watch for the freezing after saving issue that showed up a few months back.
If I do a cycling activity then the elevation graph is almost level (on the same route as my sawtoothed running activity).
Do see any difference if the outdoor temperature is for example only 1-5 °C or if you use long sleeve T-shirt and put the watch on top of that? Or use jacket. Of course if you never have so cold, then this is not applicable.
My Garmin works better when using it on top of long sleeve and the outdoor temperature is max few °C compered when the weather is warmer i.e having something like 15-30 °C and use the watch in skin.