Try to select "Any Mac" from Schemes.
It says A build only device cannot be used to run this target.
Please select an available device or choose a simulated device as the destination.
But there is no simulated device for the new ARM Macs.
It says A build only device cannot be used to run this target.
Please select an available device or choose a simulated device as the destination.
But there is no simulated device for the new ARM Macs.