I'm also seeing this problem, but have noticed a couple of other factors which I haven't seen here yet:
Running xcode simctl list takes >3.5min to give results. This is only the case with xcrun simctl commands. Other xcrun commands seem to launch in a timely fashion.
Rebooting the system will give you a few minutes in which to run normally. Wait too long and the problem presents itself again.
Can someone having this issue verify xcrun simctl list is also a problem for them? This is causing my React-Native Detox tests to time out because it can't get any of the xcrun simctl commands to come back before a 3 minute timeout. Manually increasing that timeout allows the Detox tests to succeed, but they take over an hour to complete where they would take < 2 minutes before.