There have been major issues with my Versa 4 since the latest firmware. My Versa battery drains very fast and constantly turn on and off like several times per hour with any touching it. There is a major flaw in the latest update and Fitbit need to address it. I had the watch for over two years with no issue. Since this firmware update it has none stuff issues. The power that been need to seriously look into Google . Since they brought Fibit the software of these watches has been ruined .
Same for me. Nothing wrong with our battery. It’s a software issue.
I was looking for answer because I faced the same thing for my versa 4 - flashing screens and red cross. I found the solution and back here to help. Apparently, I learnt that this is a factory reset mode and I followed this YouTube video step by step and I managed to go back to normal : Get out of Factory Reset mode
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