Same Issue on M1, and here is a temporary solution.
The cause of this issue is M1.
Before testing,
Select My Mac (Rosetta) rather than My Mac on top-left selector of Xcode mid-pane.
Then everything works fine.
cancue
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Same here! However, I do not recommend using that build. I am using CFBundleShortVersionString in my application to migrate the old state and it returns an invalid value. Things can go wrong and cause unexpected results.
It turns out my versioning code was wrong.. It's up to you to use that build or not.