My P1S printer is not even knew. I’ve had it for over a year and printing happily the entire time. but I randomly started having this issues after updating Bambu Studio on my PC to latest version on Win11. Bambu studio would not connect to my printer regardless of what I did. Bambu Handy App connected just fine on my phone. Only way I could print from my PC was in LAN mode, which is annoying because you have to enter the stupid long code every
time you open Bambu Studio.
So I factory reset my P1S printer and signed out of everything. That’s when I got stuck with this issue where the pairing is stuck on pairing and just spinning. What ended up working for me after hours and days was what others have already suggested here.
In your phone BT settings Forget BBLprinter and turn off/on BT. restart the printer and attempt to connect again. Make sure to click on the Pairing prompt when it appears on your phone first, then click on the same prompt on the printer. This time it worked for me and I was able to pair BT and Wifi and log into my account in both Bambu Handy app and Studio on pc. Hope this helps. Otherwise this is a very annoying issue! 