Faster than using xcrun if you don't need to.
In xcode
Go to Settings->Platforms
Delete the iOS 17.4 simulators currently installed
Install the one that has "GET" next to it
I'm not sure what has caused this issue, but it seems to be on Apple's side. If I had to guess it's something with how they handle registration of the installed simulators.
I've run into it on both my old personal intel mac and my M2 mac at work this week, we've also run into it on our build machines.
ChrsJLrsn
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Only seems to be working for me on a physical device being built from a mac running the OS beta.