4 sourced reports, with what to check before you buy. Each one links to the page it was reported on.
Costly or dangerous
Jet Black aluminum case coating peels off around the sensors after months of wear
Found via 'Apple Watch Series 10 common problems'. heise reports widespread coating peeling on the Jet Black Series 10, confirmed by Apple support forum and Reddit reports.
What to check. If buying the Jet Black variant, inspect the back under bright light and keep it in warranty; Apple reportedly replaces under warranty but some users are told it is user damage and quoted about 350 euros.
Speaker becomes weak and muffled after one or more months of use
Found via 'Apple Watch Series 10 common problems'. PhoneArena aggregates Reddit and Apple support forum reports of the speaker going weak; Apple published a support document and offers replacements, though some users report the replacement also fails.
What to check. If the speaker sounds thin or weak, try cleaning, water ejection, restart and re-pair first (Apple's official steps); otherwise claim warranty replacement, but be aware replacements may repeat the fault.
Battery drain tied to a WatchOS 11 bug, fixed by updating to 11.0.1
Found via 'Apple Watch Series 10 common problems'. Android Authority attributes much of the Series 10 battery drain to a WatchOS 11 bug fixed in 11.0.1, a software rather than hardware cause.
What to check. If battery drains fast, first update to WatchOS 11.0.1 or later before assuming a hardware fault; this is a software fix, not a repair cost.
Heart rate sensor fails to display readings at session start and shows implausibly high values
Found via 'Apple Watch Series 10 common problems'. A marathon runner's detailed first-hand account of the heart rate sensor dropping readings at session start and then showing implausibly high values (e.g. 171 bpm early in a slow run).
What to check. If you rely on heart rate for training, verify readings against a chest strap; the sensor can show gaps and wrong values, which matters for zone-based training.
These reports come from the pages linked under each item: owner forums, repair guides and workshops. They are not a diagnosis of any one unit, and a careful check of the one you are buying still applies.
Text from the Kriko Smartwatches and Fitness Bands catalog, version 0.1.2, under the CC-BY-SA-4.0 license.