Does anyone know if there is a way to have my apple watch series 9 wake me up if my blood oxygen falls too low while I'm sleeping?

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I think your bigger problem is that the watch appears to be on fire while you're asleep.

You might be able to create a very convoluted way by scheduling a Shortcut every few minutes that pulls the latest SpO2 records from Health and if they’re too low, creates an alarm in a minute to wake you up.

But be aware that sleeping on your arm with the watch will also make the readings drop. Also, the Apple Watch only takes a measure every 30 minutes. So it’s probably difficult to catch an apnoea event.