I downloaded Xcode, created a new swiftUI project for an iOS app. When I hit the preview button, it appears to be trying to do something, but it never generates the 'Hello World' preview. If I let it sit for half an hour or more, an error is eventually generated: Timeout Error: Timed out waiting for connection to DTServiceHub ater 15.0 seconds.
Similarly, if I hit the build button, it will take about an hour or more for the iOS simulator to open with the 'Hello World!' app. While Xcode is working, my system becomes sluggish to the point where nothing else can be done, even though the Activity monitor doesn't show heavy CPU or memory usage.
Xcode 13.3 (13E113)
System: iMac 18,2 Quad-Core i5 3 GHz 8GB macOS 12.2.1 (21D62)