Get latest iOS-device-support-files (GitHub) - https://github.com/Yatko/iOS-device-support-files. Download and copy iOS-device-support-files to: /Applications/Xcode.app/Contents/Developer/Platforms/iPhoneOS.platform/DeviceSupport
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@Sanam, could you elaborate "Make sure to change Deployment Target and selected your Xcode version at the Command Line Tools option" please. Thanks!
[SOLVED] After trying everything, updated Xcode to latest Version 11.6 (11E708) and that did NOT solve the problem however, following that, updating the iPhone to latest iOS 13.6.1 did solve the issue. I am aware this might not be the right solution but it worked at least.