Wrist heart rate errors: if your wrist HR was reading low on a fast run, Garmin under-estimates the heart-rate-to-pace ratio and overestimates VO2max. Chest strap is more reliable for VO2max-eligible runs.
Altitude: a sea-level athlete at altitude shows depressed VO2max for 7–14 days while adapting. Conversely, returning to sea level after altitude shows a brief boost.
Hot/humid conditions: heart rate is elevated for the same pace, Garmin reads this as a fitness drop. Don't trust VO2max trends during summer heat unless you're acclimated.
Wrong age/weight in profile: VO2max is reported per kg, so a wrong body-weight entry shifts the number directly. Update Garmin profile if you've changed weight.
Lab test methodology: lab VO2max uses maximal-effort treadmill or cycle ergometer to actual VO2 plateau. Garmin estimates submaximally. The gap is small in trained athletes but can be larger in untrained ones.