My App is not working in iPhone Simulators after migrating to XCode12.2

The issue here is Our App is not working in all the iPhone simulators with the iOS versions 13.3, 12.0 ,14.0,14.2 etc . but it is working as expected in all the real physical iPhone devices such as iPhone XR, iPhone 11, iPhone 12, iPhone6s etc.

Earlier it is used to work fine in all the simulators , i have updated the Xcode 11.3 to Xcode 12. After that my app is not working in iPhone simulators and i'm getting this error "Failed to build module 'LPMessagingSDK' from its module interface; the compiler that produced it, 'Apple Swift version 5.2.4 (swiftlang-1103.0.32.9 clang-1103.0.32.53)', may have used features that aren't supported by this compiler, 'Apple Swift version 5.3.1 (swiftlang-1200.0.41 clang-1200.0.32.8)'"

I already tried by removing the all the content in derived data folder and cleaned the project as well. Even i tested all the iPhone simulators but still app is not working in simulators and getting this error message Failed to build module 'LPMessagingSDK' from its module interface; the compiler that produced it, 'Apple Swift version 5.2.4 (swiftlang-1103.0.32.9 clang-1103.0.32.53)', may have used features that aren't supported by this compiler, 'Apple Swift version 5.3.1 (swiftlang-1200.0.41 clang-1200.0.32.8)'" 

Please let me know if this issue with XCode12 or with third party library "LPMessagingSDK" ?