I had the same issue in my react-native project when running the app on iOS 17 simulator. After banging my head for 2 days I finally fixed this issue.
Reason
The reason for this error is that the UIGraphicsBeginImageContext and UIGraphicsBeginImageContextWithOption are depreciated.
Fix
To fix this issue either remove, comment or replace UIGraphicsBeginImageContext and UIGraphicsBeginImageContextWithOption with UIGraphicsImageRenderer. To do this here are the steps that I followed.
First search the whole project with the command grep -r "UIGraphicsBeginImageContext" ./ this will list all the files using UIGraphicsBeginImageContext or UIGraphicsBeginImageContextWithOption. This step is important as you won't know how many packages are there which refrences the UIGraphicsBeginImageContext. In my case I had several react-native packages as well as pods having UIGraphicsBeginImageContext
Then one-by-one remove or replace it with UIGraphicsImageRenderer. Replacing with UIGraphicsImageRenderer will be tricky if you don't have good idea of objective c. So, I suuggest first commenting and then checking if hte solution works for you.
Clean project, delete the app from simulator and then reinstall. Hopefully this will fix the issue. It did for me.