I'm seeing the same thing. 4 minutes for a build and 400% CPU usage with AssetCatalogSimulatorAgent.

I've had this issue intermittently for the past week while uploading iOS 17-only builds to ASC. Sometimes a clean build would fix it. For past couple of days not even that would help. I've had to move the files from the framework to a folder directly in the app and now it uploads fine. Very annoying.