Found the issue
I had set the following environment variable in my scheme: OS_ACTIVITY_MODE=disable. Removing this environment fixed it. Don't recall why exactly this variable had been set, so recording it here for reference.
kolitheonli
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Note - I ran the same code on my iMac desktop with Xcode 12, and I got the expected output. Other logger messages (from Firebase/Analytics) are also showing up there. Clearly some output setting is different between the two...