I am facing the same issue here after upgrading to Sonoma 14.4.1 and Xcode 15.3
Starting one single Simulator would take around 6gb of Memory. When starting more than 1 simulator the whole thing freezes. I had to reduce my automated testing framework devices to 1 (which is ridiculous).
This is reproducible on our 2 testing machines: Both M1 and M2. Both machines have 8gb of memory
Anyone with a solution for this issue?