The issue seems to be resolved in Xcode 26.0.1, at least for me.

The issue got marked as resolved, stating that the toolkit should be manually downloded, despite me having it installed and it still not working. -_-

I should also mention that xcrun metalib fails with xcrun: error: sh -c '/Applications/Xcode.app/Contents/Developer/usr/bin/xcodebuild -sdk /Applications/Xcode.app/Contents/Developer/Platforms/MacOSX.platform/Developer/SDKs/MacOSX.sdk -find metalib 2> /dev/null' failed with exit code 17664: (null) (errno=No such file or directory) xcrun: error: unable to find utility "metalib", not a developer tool or in PATH. I do have the component installed in Xcode