The only ELT watch of which I'm aware is made by Breitling.
It takes a deliberate action to unlock & extend the ELT antenna. This turns the ELT on. Having done so the watch has to be returned to Breitling for refitting/repair.
I've heard they'll do it for free if you can prove it was for SAR purposes but charge like a wounded bull if it was not an emergency.
Can't see too many people would be keen to incur a US$1000 fee (or whatever) just out of idle curiosity.