You could try this:
Open your terminal and type:
dd if=/dev/zero of=/Users/<your user name>/hugefile bs=100m
Let it work until it fills your ssd/hard drive and then:
rm ~/hugefile
Then navigate to the folder you've downloaded Xcode and:
xip -x Xcode_12.4.xip
The first 2 steps above create a hugefile and while removing it it restores the "purgable" space.
The third step expands the xip.