Wife and I were having the same issue and once we disconnected Bluetooth the live feed started working again. Thanks for the tip.
Very hit and miss. the only thing that it works on is my Mac to tell me there is a motion at the door. I really need it for my mobile for when I am out. Sometimes works (about three times) other than that, just get continuous circle. Only just got it back on mobile after starting right from begining again. Ridiculous as you can get the some sort of thing now for under £50 which is not as much to lose if it refuses to work. A lot of money going into someones pockets.
I read this after finding our the fix for myself eventually for my S10. I never used to have a problem activating live video on Ring app with Data Saver on but it definitely was the problem after trying loads of fixes. Despite my settings allowing the app whilst Data Saver is on, it does not work.
I have new functions on the Ring app so can only assume these updates have impacted in this way.
I turned off my bluetooth to disconnect the watch and it loaded. This will get very annoying very quickly. Ring please fix this issue ASAP.