The answer is complex- but essentially the jury's out (though my last deep dive into this was late 2021- so if there's a new review paper I'd be interested to read it).
My Garmin's just started measuring this as well. I've no idea how it works but really need to read up on it.
My watch is showing mine as being 40ms which it says is balanced. I've not got a clue if that's good or bad.
I used an app and iPhone camera to track it last year, it never really showed any major changes in hrv so gave up.
Been feeling pretty rubbish this week and the new garmin feature has flagged v low variance Tuesday and yesterday, back to normal today, about to run so hoping to feel good again!
Anyone tracking hrv? My watch has started on this after an update, and is reporting I'm sub 50 which apparently is pretty bad. How accurate is it?