The Samsung Galaxy Watch Ultra has a built-in optical heart-rate sensor, but Samsung Health does not offer a way to use a Bluetooth chest strap as the heart-rate source for a workout.
With Watchletic for Wear OS, you can connect a supported Bluetooth heart-rate monitor directly to your Galaxy Watch and use its readings during your workout. We use a Polar H10 in the screenshots below, but it is only one example of a supported monitor.
That is it. Press the center start button and Watchletic will use the chest strap for heart-rate data. The same steps work on other Wear OS Galaxy Watches, including the Galaxy Watch 8, Watch 7, Watch 6, Watch 5, and Watch 4 series.