I had this same problem except I was using Xcode 12 Beta, IOS 14 and an iphone 11 Pro Max. Here is what I did to resolve this:
You need to go into Project Info (not Targets) and for the Deployment Target setting set your IOS Deployment Target to be whatever version IOS you are using on your iphone.
Also, you need to then select your Target and in the Deployment Info section you need to ensure that the IOS version is correct for your selected Iphone.
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I’m having the same issue on my MacBook Pro 16. I tried changing the hibernate and sleep settings to no avail.
i’ve been stuck for almost 2 years now! oh wait we’re not talking about my life, just access to this stupid app. ugh it’s only been a little while