Dont worry guys, it is still an issue even with M3 Max MacBook Pro 😞 I had restarted Xcode and MacBook so many times and it still would not open. So frustrating when I barely have any apps open. Really regretting this purchase now when it's supposed to not give me any headaches for years since this is their best chip

After a little digging, I found the issue was I must have toggled it. You can toggle between opening at the bottom or to the side by Control+Option+Command+T