I was running into the same error with my newly acquired iPhone 16 Pro. I downloaded Xcode 16.1 beta 2 and successfully set it up for development. This morning my phone was updated to what appears to be the final iOS 18 version (as opposed to the version installed on new phones) and tried Xcode 16 (NON beta) again. This time the setup for development worked immediately. That suggests to me that Xcode 16 came with a package specifically for the final version of iOS 18, and not for the version shipped on new phones. Hopefully this will all be resolved soon between shipping phones with the latest OS version and updates to Xcode. FWIW, I updated my phone manually in Settings>General>Software Update.
Topic:
Developer Tools & Services
SubTopic:
Xcode
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