Code for the new dial was found in iOS 11.4 and watchOS 4.3.1, and it seems that the new dial is animated with moving color threads that shift each time the display is tapped.
The dial will be available on Monday, June 4 at 12:00. Pacific Time, which indicates that it will be made available to all iOS users through an over-the-air update for watchOS 4.3.1
It is unclear whether Apple will have any more pride-related announcements to accompany the new dial, such as a new Pride band. It is also not known if Apple wants to release 5 additional watch faces with watchOS, but last year's version of watchOS 4 contained new faces.
Apple is always celebrating San Francisco Pride and participating in the parade, with the event taking place on Saturday, June 23 and Sunday, June 24 this year. So it makes sense for the company to release a new Apple Watch face before that date.
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