Yes! Apple Watch users (Series 3, 4, 5, SE, & 6) can track shots without carrying a phone in their front pocket during play. The existing option of using Apple Watch in "Rangefinder Mode" while playing with an iPhone in the front pocket will continue to be supported.
It's available to all iPhone users who have second-generation Arccos sensors (non-Bluetooth) and can be accessed by simply updating the Arccos Caddie app.
For more information on using Arccos Caddie with an Apple Watch, please refer to these articles: