Feb 12/2023:Apple has not fixed this issue till now and more users affected by this issue.
A Reddit user wrote:
I thought maybe the remote was broken, so I charged it for a few hours. The remote then reads “Connected” in the top corner, but disconnects after 30 seconds. Repeated several times over the next few minutes. I restarted the Apple TV and the remote reconnected, didn’t care about it. But two days later, the same thing happened. A full restart of the Apple TV is required to allow the remote to connect. Throughout the process, I was able to use the Control Center remote on my iPhone with no issues.
Jan 20/2023: Apple recently released the latest Release Candidate version of iOS 16.3, iPadOS 16.3, tvOS 16.3 and some other OS. Apple also updated its AirPods (AirPods 2, AirPods 3, AirPods Pro & AirPods Max) and HomePod.
Apart from this, according to the latest report, some Apple TV 4K users complaining that there is a connection problem with the Siri Remote on Reddit, Apple Support, Twitter, etc. Users have not yet received an official reply on any platform, so they are doing a temporary fix to this problem by restarting the remote control/set-top.
According to MacRumors, the root cause of this issue is a Bluetooth connection failure, even though the Siri Remote and the Apple TV 4K were very close to each other. In the comments section on Reddit, some users reported that the Siri Remote keeps disconnecting from time to time.
Some users reported that the issue did not occur when users controlled the Apple TV 4K using the Remote app on their iPhone or using the TV remote via HDMI-CEC. The issue only occurred between the remote and the Apple TV 4K. The exact cause of this problem is not yet known but it is happening after upgrading to tvOS 16.2 update.