I have tried all the below options
Unpaired, paired the device.
Restarted device.
Restarted Xcode, Mac system.
If I run the app in the device by disabling (Edit Scheme -> Info -> Debug Executable) options then it is working fine, but I can't debug with this option.
If I run the app in the simulator in debug mode by enabling Debug Executable option then it is working fine.
After installing Xcode12.5 in macOS Big Sur. Check the CommandLineTools folder are available in Developer folder by executing this command cd /Library/Developer. By using xcode-select --install command we can install CommandLineTools for the xcode.
I am using company provided MacBook Pro. So after executing xcode-select --install command, got network problem error, this is because installation server configuration is different. By using this answer i am able to successfully install the CommandLineTools
I am using iOS14.5.1 device. So in this path Applications -> Xcode(right click and select show packget contents) -> Contents -> Developer -> Platforms -> iPhoneOS.platform -> DeviceSupport -> renamed 14.5 folder name to 14.5.1
Now i quit Xcode, disconnected iphone.
Reconnected iPhone with mac. Opened Finder app, here it is asking to Trust the iphone. After clicking on trust button i got some error. this error because of McAfee software security check. i have disabled that by following steps in this link
Now i quit Xcode, disconnected iphone. Reconnected iPhone, opened xcode. Click on trust in prompt in both Finder -> iphone device name folder, iPhone device
After some time it is successfully paired the device. Navigate to Library -> Developer -> Xcode -> iOS DeviceSupport -> 14.5.1 (18E212) arm64e -> check info.plist file, symbols folder available. If these files are avaible then our device is successfully paired with mac system and it is ready for debugging.
Now debugging is working fine successfully.