The most common reasons for not being able to receive a token are either a project misconfiguration, or a network issue.
In your project, please check that the "APS Environment" entitlement (typically in the file <your app name>.entitlements) exists for the watch extension, and is set to either development
or production
Also make sure that the provisioning profile you are using to build your app has Push Notifications enabled, along with your project itself having this enabled.
For push notifications to work, your device needs a persistent, non-proxied connection to APNs, and your network needs to be configured to allow access to the APNs ports and IP address ranges.
You can read troubleshooting details at this document: https://support.apple.com/en-us/HT203609
We see this problem occur mostly due to a misconfigured local network or blocking the APNs server addresses and ports.
In this context, a connection issue means that the device is not able to reach the APNs servers/ports, and/or not reachable by the APNs servers directly and reliably.
Fixing either or both of these will solve the problems for majority of developers.
Other thing to try would be to restart the watch, which will cause the device to try to reestablish its persistent connection to APNs and can fix the issue.