Apple replied to my feedback.  This issue is resolved in iOS 16.2 beta without requiring using the workaround solution above.

@Alex_Vorobiev That worked for me, thanks! It seems the new WidgetKit complications still have a dependency on ClockKit for now.

I believe this is an iOS 16 or watchOS 9 bug. I submitted feedback to Apple FB11524333 (Watch companion app displays COMPLICATION_TYPE_EDIT_LABEL_(NULL)_COMPANION for new WidgetKit complications). The resolution status is showing as open and recent similar reports is more than 10. I reported on Sep. 16. This is what I listed in the report: Please describe the issue and what steps we can take to reproduce it: Create new watchOS app in Xcode selecting "Watch APP with New Companion iOS App". Use default Hello World code. Add new target> watchOS> Widget Extension. Used default My Intent Widget. Run Watch App via iOS in Simulator. Open Watch companion app on iOS Navigate to add new complication to watch face. Heading above "My Intent Widget" is not the Bundle Display Name but shows COMPLICATION_TYPE_EDIT_LABEL_(NULL)_COMPANION instead.