Do I need my macOS updated to Big Slur in order to use xcode 12 to target macOS arm64?

I recently updated my xcode to latest version 12.2. According to the doc I should be able to see 64 bit arm selection in the architectures list. But I don't see that. Am I missing something?
You do not need to be on Big Sur. I'm still on Catalina, and the Architectures build setting says Standard Architectures(Apple Silicon, Intel). When I build with the Release configuration, I get a fat binary with Intel and Apple Silicon versions of the app.

What architectures are in your list? That may help someone provide an answer for you.
Do I need my macOS updated to Big Slur in order to use xcode 12 to target macOS arm64?
 
 
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