I have the same issue but inverted. simulator 14 is booting within 30 seconds but 13.5 stucks on apple logo. I have tried everything like reboot MacBookAir or reboot the xcode or reboot the simulator.

I am am using React-Native. I have the same problem. Images and icons not displaying but I think problem with bundles creation. Please let me know the solution If any one get it. Thanks..

I have 41.82 GBs free but still unable to install the Xcode 12.5