Finally, I solved this issue by unpairing my iPhone and then restarting my iPhone and Mac. Make sure to change Deployment Target and selected your Xcode version at the Command Line Tools option before restarting your iPhone and Mac. I hope this can help you!

Same error, iOS 14.0, Xcode 12.0-beta. I changed iOS Deployment Target to 14.0, and I selected Xcode 12 at the Command Line Tools option, but none of them help!!!