Same problem here. Running on M1, Xcode 12.5, iOS 12.0 Beta (21A5248p).
Now I don't know if it has to do with me being on the new beta build of iOS or not.
The error I get in /var/log/system.log
Jun 18 11:47:39 Nickis-MBP rpmuxd[12518]: com.apple.rpmuxd:rpmuxd_start_kernelctl:234 Child process /sbin/kextload[12519] exited with status 29
Jun 18 11:47:39 Nickis-MBP rpmuxd[12518]: com.apple.rpmuxd:rpmuxd_start_kernelctl:242 retry loading kext from non ROSP location
Jun 18 11:47:39 Nickis-MBP rpmuxd[12518]: com.apple.rpmuxd:rpmuxd_start_kernelctl:234 Child process /sbin/kextload[12521] exited with status 2
Jun 18 11:47:39 Nickis-MBP rpmuxd[12518]: com.apple.rpmuxd:rpmuxd_start_kernelctl:236 retry loading kext failed, aborting
Jun 18 11:47:39 Nickis-MBP rpmuxd[12518]: com.apple.rpmuxd:rpmuxd_start_packet_capture:734 Unable to create kernel control communication
I tried everything that is mentioned up till now, but sadly with no good result.