WatchOS 2.2.1 beta 2 release is also meant to developers only. They have to install iOS 9.3.2 beta 2 before they are able to install watch OS 2.2 update on their smartwatch. You can get is via Watch app through General menu where you can go to Software Update. The update would only be visible if you are already running iOS 9.3.2 beta 2 on iPhone.
Make sure your device has not run out of battery life. You should either fully charge it beforehand or connect to power source when you are installing watch OS 2.2.1 beta 2. If there is not enough battery life you could fail to upgrade.
Are you already testing Apple operating system update? Have you installed both iOS 9.3.2 beta 2 and watchOS 2.2.1 beta 2 or chosen only smartphone version? Recent Blog
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