Both are definitly possible.
1. For the refresh button just create a button that refreshes the parameter entity of the progress circle. If there is no context object then add a dataview with a helper entity(maybe non persistant) and place the progress circle in that dataview. Let your refresh microflow refresh the helper entity.
2. If you want the progress circle to automaticaly update when a new object is added it depends a bit on where the user is able to add the new record. If it is in the same page, then just refresh the helper entity. If it is from a different page you can maybe think about using a microflow timer to refresh the circle every x minutes.