I have an Apple Watch series 5, and have had suboptimal battery performance (I came from Series 4). I have tried several changes to improve battery life, including turning off noise detection, using the California watch face (with dark background), and turning off Always On (which largely defeats the advantage of the Series 5).
Of these options, foregoing Always On gave the best improvement (down to 20-25% after 15 hours with no workouts). This is OK, I guess, but not nearly as good as my old Series 4.
FInally, I tried turning Always On back on, but turning off Raise To Wake. This has made a great difference, with battery only down to 45-50% after 15 hours.
To make this configuration tolerable, I am using the infographic face with black background, with most complications reporting data (battery, steps, temp, wind velocity, calendar, etc.) so I can see the time, along with lots of other information, all the time. With this setup, the Always On display is enough for most purposes, for most of the day.
When I need to interact with the watch or see other data, I have to tap the screen. While this is a bit of a PITA, it’s not as bad as I had feared —especially since I only need to do this occasionally (since I have been strategic about the complications on my main watch face).
This “solution” is still suboptimal, and I’m counting on a software fix for the ultimate solution, but it’s great not to be looking for a charger all day.