The WK40 is already a great starter design, and there’s the… forgot the model, but the DLsomething dive-light that has the magring switch around the head.
Stick a charging port on the “dive light” (only don’t call it a “dive light” anymore!) like the WK40 has, but unlike the WK40, don’t include a separate tailswitch, but make it off/low/high or maybe off/low/medium/high like the dive-light.
4500K should be a nice balance between warm and “yellow”. People with cataracts don’t like overly blue light, as it glares too much.
I’d even go to 26650, as the wider diameter would be easier to hold.
LuxPro has some lights that have a thin rubber sleeve on the battery-tube, and such a sleeve can be textured with bumps or ridges, and just be rubber for better grip, especially when wet.
As for the magring, MAKE IT BIG. Garishly big, like a cheap costume jewelry bangle-bracelet. Ideally a contrasting color like blaze orange, too, so gramma knows what to grab for to turn it on. A plastic or rubber slip-on grip that goes on the ring would work just as well if not better than a freakishly large ring itself.
Also, an easy way (that’s impossible to ignore) to tell when the battery’s getting low. Eg, a quick blip every 10sec when voltage drops below 3.6V, a pair of blips every 5sec when it drops below 3.3V, and a blip every 2sec when critically low like 3.0V or less (ie, mere minutes of runtime left). Gramma’s not going to pay attention to even a blinking red LED on the side of the light, but won’t be able to ignore the light blipping out every few seconds. “Annoying? Well, yeah, then charge it!”
If you really want to make it gramma light, a movement sensor that will automatically turn off the light after, say, 2min-5min of no movement. So if gramma puts down the light and wanders off to answer the phone or whatever, the light won’t be dead next time gramma grabs for it.
And if not too high-strung as far as output (and heat), it can even be made lighter and grippier by using nylon (like some Nextorch lights) instead of Al. Probably better impact resistance if dropped, plus lighter, and can be made in any color vs having to anodise Al after the fact.
(Goggled it: DL30 has the magring.)