Yeah very specifically above or below. You don’t need to share exact location data (although you’d still need access to it on the local device) - just elevation.
Don’t over engineer it - just an indicator about how much further down the slope or back up the slope the rest of the pack is.
I find it annoyingly frequent that I’m either waiting for mates who have bombed off ahead because I didnt see them pass, or I’m waiting at the bottom for mates who are up the slope waiting for me because they think I’m behind ! Literally hours wasted each trip doing this.
You might think a quick phone call is the solution to this but that’s too clunky. It’d be nice to take out my phone and just quickly see something on the home screen indicating this, or on the watch app.