Same problem. Just got Apple Silicon Mac Mini. IBDesignable button has two red exclamation marks.
One thing to do:
1) Delete any tabs showing the IBDesignable item(s).
2) Clean build folder (maybe not needed).
3) Exit Xcode.
4) Restart Xcode/project.
This doesn't fix the underlying problem, but you don't have to look at error messages. (Just don't peek at your views :)
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Developer Tools & Services
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General
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