"uw" on a cell phone, specifically on iPhones and Android phones using Verizon's network, typically means you are connected to Verizon's 5G Ultra Wideband network.
This indicator signifies that your phone is utilizing Verizon's fastest 5G service, offering significantly higher speeds and lower latency compared to standard 5G or 4G LTE. Some Android phones might display "5G UWB" instead of "5G UW." In both cases, it confirms access to Verizon's Ultra Wideband network.