Xcode freezes after upgrade to 12.3

I have upgrade Xcode to last release on 15 december 2020. Now it freezes every minutes for 5 minutes it's unusable. Are there some solutions?

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Does it freeze on any specific action ?
Do you notice some unusual Xcode activity level in Monitor ?

Did you reboot ?

Otherwise, a good practice is to keep previous version 12.2 and get back to it.
And file a bug report.

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sorry, dp
Started having this issue today (xcode 12.3, big sur 11.1) and ran into another layer of problems because while plugged into lightning cable it would say it couldn't setup device for development even though I built to this phone all the time. Turns out the Apple Watch synced to it seemed to be the problem -- after turning off the Apple Watch it let me build over lightning cable. Doing so also seems to let me build over wifi again without the hanging.

So if you have Apple Watch, try turning that off. Haven't checked to see if turning it back on will break xcode again.
Filed a bug report on 2/13/2021. Very bad update, putting me behind for a few days :-(
https://stackoverflow.com/a/65732428/6671722

You've got the same experience if your iPhone is connected to Xcode via Wi-Fi and isn't fully prepared for development or present errors in Devices and Simulators, it was my case. Removing "Connect via Network" works without need to reboot or anything else.
I got the same issue on Xcode 12.4 on M1.
i unplugged all the wires ( Power and USB device ) and it seems to work for now
In my case, thunderbolt hub causes this problem.

I connect my iPhone to M1 Mac mini directory, problem solved.
Hello, you can unpair your network connected devices if you don't want to go back to Xcode 12.2 or lower.
The same response is available here.
Best regards
Had this issue in 12.3, deleted Derived data and then upgraded to 12.4. deselected 'Connect Via Network' but problem still existed.

But Finally disconnected iPhone cable from MAC, restarted XCODE, restarted iPhone it worked well.
This problem still exists with Xcode 12.4 !

I'm on Xcode 12.5 and have been getting a beach ball every 5/6 seconds for about a second. I noticed it mostly while editing source code files. I tried all the things mentioned in this thread with no luck (turning wifi off, I didn't have any devices at all in the Devices window, etc.). I think it was specific to the project.

At the top of the source code pane is a row of files that were previously opened. I removed all of those files and the problem seems to have been fixed. I probably had 50 files listed in there and had two editor panes open side by side. Option-click removes all the files at once.

This seems to have worked for me.

FFFFFFUUU Version 13.2.1 (13C100) freeze like a hell after upgrading os to Montery 12.1 (21C52) from big sur.

I have the same issue. Rebooth does not stop the freezing