Xcode 12 hangs on MacBook M1 constantly

Unfortunately my new M1 MacBook Air with 16GB when running Xcode 12 constantly hangs. The project is a fairly straightforward SwiftUI project with no 3rd party libraries

It hangs, or freezes. Sometimes the spinner comes up, sometimes not. Sometimes it works for a few minutes, sometimes it hangs bad enough I need to force quit it.

Anyone else experiencing this? I installed it from the Mac App Store. Nothing else is running beside Safari. Nothing seems to be eating the CPU in activity monitor.
If anyone else reads this, an answer was posted in another thread. Need to turn off Network Access in Devices and Simulators panel
Xcode 12 hangs on MacBook M1 constantly
 
 
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