I have the same problem. I have M1 Mac Mini on Big Sur (11.0.1). Xcode 12.2 from App Store.
I delete the Xcode and reinstalled from App Store, I delete Xcode related preferences still, I cannot click "Install" nor "Cancel", nor I cannot even quit Xcode, then have to force quit.
Should I reinstall whole Big Sur once again? If someone has already figure it out, please let us know...