I was able to solve this by :
in Xcode Settings / Platforms - right click over iOS 17.4 Simulator and choose "Delete"
Closing Xcode
going to https://developer.apple.com/download/all/?q=Xcode and downloading iOS_17.4_Simulator_Runtime.dmg
Installing it from terminal by going to the directory where the dmg was downloaded and running the following command :
xcrun simctl runtime add ./iOS_17.4_Simulator_Runtime.dmg
Running Xcode again, everything was working fine now.