Was expecting After OS or Xcode update that issue might be fixed so updated the latest OS version 12.0.1 (Mac OS Monterey) and updated Xcode 13.1 also. Still same issue system getting hang and slow and project taking more than 500+ second to build some time. Don't know whats going on with new update ??? Does anyone have any kind of hack or solution Please update. Not the biggest problem is that i am not able to use Xcode 12 (old version) in new mac OS. :( Till not i was using old Xcode only.

@edford i figure out something like its working fine without "Open using Rosetta". With M1 system, i was able to run project on Simulator as well as in real device. But was not able to Archive the build and got "iPA creation failed" . so after spending some time i got the solution like to enable "Open using Resetta" for Xcode and then was able to Archive build also. Thats why its enable in xcode setting. Today i disable Rosetta setting for xcode and tried. and then xib also loading properly. This is still not proper solution seems like but dont have any other option for now. Need to enable/disable Rosetta setting for xcode to make it work for xib and Archive build both.

@edford Yes. even after i create brand new xib, its not displaying with proper UI component and displaying only blue line which is really frustrated. its very had to identify and edit any design changes.

its not working after turn on/off bounds or layout rectangles.. Even if i create any new file than also it not working in new xib it self and displaying only blue line after adding any UI fields.