I'm starting to hate Apple. I can't even work now, the emulator often crashes and shows "Volume Hash Mismatch", Monterey stops responding from time to time and restarts automatically frequently. I even wiped the hard drive and reinstalled Monterey , but the problem remains the same. I had to upgrade to Monterey because I had to develop with a new version of Xcode, but the stupid new Xcode need the stupid Monterey!!! I hate Apple, why is this still a serious problem on 12.3.1?!

I have met the same issue, it hangs there for almost an hour, but I cancel it and try it again, and it works finally. So if you meet this problem, I think you can try to cancel it and try several times, good luck bro.