I have the same problem. The background goes to bright red..If I zoom way out it shows normal. but just a little zooming in results in going back to red.
Very frustrating!
tpmc
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Yes, I also have same problem on new Big Sur beta and Xcode beta4. I had also exported my account (certificates, keys, etc) from the working old Xcode on my Catalina partition, and then imported them into Big Sur's Xcode version. Still didn't work. I don't know, but strong suspect, it is related, I can't print any statements to the Debug Window from my code. This still works with the older Catalina Xcode 11 version.