"Preparing Tom's iPhone Xcode" usually means Xcode is copying debug symbols off of the device but could also mean we're having issues mounting the DDI in order to start that operation. A quick way to check on that is to run xcrun devicectl list devices
to check on the state of your devices. If the device in quesiton is connected
then the DDI mounted, and we should be fetching symbols. If it is shown as connected (no DDI)
then we might be having issues mounting the DDI.
If we're having issues mounting the DDI, this is the most useful info to gather:
xcrun devicectl list preferredDDI
xcrun devicectl device info ddiServices --device <Device Identifier>
The latter should report a detailed error about why the DDI failed to mount.