Owing to ring strain, cyclic ketones exhibit complex excited state dynamics with multiple competing photochemical channels active on the ultrafast timescale. While the excited state dynamics of cyclobutanone after π* ← n excitation into the lowest-energy excited singlet (S1) state has been extensively studied, the dynamics following 3s ← n excitation into the higher-lying singlet Rydberg (S2) state are less well understood. Herein, we employ fully quantum multiconfigurational time-dependent Hartree (MCTDH) simulations using a model Hamiltonian as well as “on-the-fly” trajectory-based surface-hopping dynamics (TSHD) simulations to study the relaxation dynamics of cyclobutanone following 3s ← n excitation and to predict the ultrafast electron diffraction scattering signature of these relaxation dynamics. Our MCTDH and TSHD simulations indicate that relaxation from the initially-populated singlet Rydberg (S2) state occurs on the timescale of a few hundreds of femtoseconds to a picosecond, consistent with the symmetry-forbidden nature of the state-to-state transition involved. There is no obvious involvement of excited triplet states within the timeframe of our simulations (<2 ps). After non-radiative relaxation to the electronic ground state (S0), vibrationally hot cyclobutanone has sufficient internal energy to form multiple fragmented products including C2H4 + CH2CO (C2; 20%) and C3H6 + CO (C3; 2.5%). We discuss the limitations of our MCTDH and TSHD simulations, how these may influence the excited state dynamics we observe, and—ultimately—the predictive power of the simulated experimental observable.