Also got the same issue with iOS 17.0.2 and Xcode 15.0 (15A240d).
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Today I received the update of iOS 17.0.3 on my phone, unfortunately the issue still persists.
I am also unable to develop, run & test with latest Xcode 15 on devices running iOS 17 (tried both 17.0.2 and 17.0.3). Unfortunately, I do not have other devices which still run iOS16 :/
Error message in my case:
I also tried all of the following:
Rebooting phones
Rebooting Macbook
Updating vom iOS 17.0.2 to 17.0.3
Deleting / Wiping Xcode & fresh install
Multiple unpair/pair retries
...
No luck so far.