I'm seeing a similar issue. I have a quite large and complex Xcode project that is generated via cmake. When I open this in the Xcode 12 beta it just hangs. Other projects work fine just not my large cmake-generated ones.
I've attached a "diagnostic report" that shows the heaviest stack trace for Xcode while loading.
Xcode 12 beta diagnostic report - https://developer.apple.com/forums/content/attachment/8d1b9229-4d2b-4c0b-a64b-0890aedc704f
robs
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