I would be fine with agung closing the thread, but I will just open up a new one because the issue definitely isn't fixed for me with Xcode 11.5. (And yes, I have done all of the usual house-keeping steps like clean builds, letting indexing complete, quit and restart Xcode, etc - none of that solves this issue for me).
I replied to agung above, but that reply has a link to a screenshot of the issue and is currently being moderated to prove how crazy bad this issue is - especially when you have relatively complex layouts (and not being able to submit screenshots is frustrating itself). I submitted a feedback assistant ticket several months ago when this issue first showed and that ticket is still sitting in the "open" state.
Not only this issue, but now the simulator is completely broken for tvOS - as you can no longer use the keyboard for focus navigation in the simulator.
For now, I have to stick with Xcode 11.3.1 - that is the last version where everything worked for me and my team. This *****.
The only thing I can think that may be causing this issue is that my .xib files are in a different folder than the corresponding .swift files - but I can't imagine something so simple would cause such a serious issue as this. Also, my project is quite large and complex - with something over 30 .xib files - but again - that is not something that should cause issues with a enterprise level development tool.
