 Solution

Interpret the orbit in the Schwarzschild metric as an unforced circular timelike geodesic and choose its plane as $\theta =\pi /2$. Put $f=1-2\mu /r$. The radial geodesic equation at constant radius uses the Christoffel symbolsand gives the Angular velocity of a circular Schwarzschild geodesicThe proper-time normalization then yieldsOver one revolution, the Proper period of a circular Schwarzschild geodesic is thereforeBoth the gravitational and orbital kinematic contributions to time dilation are included. Circular timelike geodesics exist for $r>3\mu$; they are stable for $r>6\mu$ and unstable for $3\mu <r<6\mu$, with marginal stability at $6\mu$.

If “circular orbit” instead means a forced trajectory with an externally chosen angular velocity, the radius alone does not fix the answer. Its elapsed time is $\Delta \tau =\Delta t\sqrt{1-2\mu /r-r^2{\Omega }^2/c^2}$, or $2\pi \sqrt{1-2\mu /r-r^2{\Omega }^2/c^2}/|\Omega |$ per revolution. The geodesic interpretation supplies the missing angular velocity.