Sure it works. I've tested with Xcode 16.2, MacOS 14.7.2 and using iPhone 16 Pro simulator as in your case.
How long ago did you install Xcode ?
Are you sure installation is complete ? Or were you asked to download simulators.
If so, did you do it ?
Try to
select another simulator, or
restart Xcode.
If that does not work, try to reinstall, from a different site. This one works well: https://xcodereleases.com
Topic:
Developer Tools & Services
SubTopic:
Xcode
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