The developer disk image could not be mounted on this device - Xcode 16.0 - iPhone 16 Pro Max - iOS 18.0.1

I recently purchased an iPhone 16 Pro Max. I updated my phone, Mac OS, and Xcode to the latest versions.

I have an Xcode project that builds and runs normally on my old device.

However, on my iPhone 16 Pro Max I receive the following error:

" The developer disk image could not be mounted on this device.

Error mounting image: 0xe800010f (kAMDMobileImageMounterPersonalizedBundleMissingVariantError: The bundle image is missing the requested variant for this device.) "

Details:

Domain: com.apple.dt.CoreDeviceError
Code: 12040
Failure Reason: Error mounting image: 0xe800010f (kAMDMobileImageMounterPersonalizedBundleMissingVariantError: The bundle image is missing the requested variant for this device.)
User Info: {
    DDIPath = "/Library/Developer/DeveloperDiskImages/iOS_DDI.dmg";
    DVTErrorCreationDateKey = "2024-10-04 21:29:15 +0000";
    DeviceIdentifier = "6D41E9F7-8052-4B8B-A38E-99A187E14574";
    IDERunOperationFailingWorker = IDEInstallCoreDeviceWorker;
    NSURL = "file:///Library/Developer/DeveloperDiskImages/iOS_DDI.dmg";
    Options =     {
        MountedBundlePath = "file:///private/var/tmp/CoreDevice_DDI_Staging_502/6D41E9F7-8052-4B8B-A38E-99A187E14574/";
        UseCredentials = 0;
    };
    "com.apple.dt.DVTCoreDevice.operationName" = enablePersonalizedDDI;
}
--
Error mounting image: 0xe800010f (kAMDMobileImageMounterPersonalizedBundleMissingVariantError: The bundle image is missing the requested variant for this device.)
Domain: com.apple.mobiledevice
Code: -402652913
User Info: {
    FunctionName = AMDeviceRemoteMountPersonalizedBundle;
    LineNumber = 2145;
}
--
Failed to initialize image properties: 0xe800010f (kAMDMobileImageMounterPersonalizedBundleMissingVariantError: The bundle image is missing the requested variant for this device.)
Domain: com.apple.mobiledevice
Code: -402652913
User Info: {
    FunctionName = "-[PersonalizedImage mountImage:]";
    LineNumber = 1816;
}
--
Failed to find image for variant/identity: (variant: DeveloperDiskImage | boardID: 14 | chipID: 33088 | securityDomain: 1).
Domain: com.apple.mobiledevice
Code: -402652913
User Info: {
    FunctionName = "-[PersonalizedImage initializeImageProperties:]";
    LineNumber = 1063;
}
--

Event Metadata: com.apple.dt.IDERunOperationWorkerFinished : {
    "device_identifier" = "00008140-0008254A0093C01C";
    "device_isCoreDevice" = 1;
    "device_model" = "iPhone17,2";
    "device_osBuild" = "18.0.1 (22A3370)";
    "device_platform" = "com.apple.platform.iphoneos";
    "device_thinningType" = "iPhone17,2";
    "dvt_coredevice_version" = "397.21";
    "dvt_coresimulator_version" = 987;
    "dvt_mobiledevice_version" = "1759.2.1";
    "launchSession_schemeCommand" = Run;
    "launchSession_state" = 1;
    "launchSession_targetArch" = arm64;
    "operation_duration_ms" = 102196;
    "operation_errorCode" = "-402652913";
    "operation_errorDomain" = "com.apple.dt.CoreDeviceError.12040.com.apple.mobiledevice";
    "operation_errorWorker" = IDEInstallCoreDeviceWorker;
    "operation_name" = IDERunOperationWorkerGroup;
    "param_debugger_attachToExtensions" = 0;
    "param_debugger_attachToXPC" = 1;
    "param_debugger_type" = 3;
    "param_destination_isProxy" = 0;
    "param_destination_platform" = "com.apple.platform.iphoneos";
    "param_diag_113575882_enable" = 0;
    "param_diag_MainThreadChecker_stopOnIssue" = 0;
    "param_diag_MallocStackLogging_enableDuringAttach" = 0;
    "param_diag_MallocStackLogging_enableForXPC" = 1;
    "param_diag_allowLocationSimulation" = 1;
    "param_diag_checker_tpc_enable" = 1;
    "param_diag_gpu_frameCapture_enable" = 0;
    "param_diag_gpu_shaderValidation_enable" = 0;
    "param_diag_gpu_validation_enable" = 0;
    "param_diag_guardMalloc_enable" = 0;
    "param_diag_memoryGraphOnResourceException" = 0;
    "param_diag_mtc_enable" = 1;
    "param_diag_queueDebugging_enable" = 1;
    "param_diag_runtimeProfile_generate" = 0;
    "param_diag_sanitizer_asan_enable" = 0;
    "param_diag_sanitizer_tsan_enable" = 0;
    "param_diag_sanitizer_tsan_stopOnIssue" = 0;
    "param_diag_sanitizer_ubsan_enable" = 0;
    "param_diag_sanitizer_ubsan_stopOnIssue" = 0;
    "param_diag_showNonLocalizedStrings" = 0;
    "param_diag_viewDebugging_enabled" = 1;
    "param_diag_viewDebugging_insertDylibOnLaunch" = 1;
    "param_install_style" = 2;
    "param_launcher_UID" = 2;
    "param_launcher_allowDeviceSensorReplayData" = 0;
    "param_launcher_kind" = 0;
    "param_launcher_style" = 99;
    "param_launcher_substyle" = 0;
    "param_runnable_appExtensionHostRunMode" = 0;
    "param_runnable_productType" = "com.apple.product-type.application";
    "param_structuredConsoleMode" = 1;
    "param_testing_launchedForTesting" = 0;
    "param_testing_suppressSimulatorApp" = 0;
    "param_testing_usingCLI" = 0;
    "sdk_canonicalName" = "iphoneos18.0";
    "sdk_osVersion" = "18.0";
    "sdk_variant" = iphoneos;
}
--


System Information

macOS Version 15.0.1 (Build 24A348)
Xcode 16.0 (23051) (Build 16A242d)
Timestamp: 2024-10-04T14:29:15-07:00

I have reinstalled Xcode, restarted my MacBook, and restarted my iPhone. Not sure how to resolve this issue; any guidance would be greatly appreciated.