Whew. A whole month after the first release and I've managed to solve this for my own situation.
Just signed up to share in case anyone else happens to be in a similar situation, especially as the Xcode beta's download UI and error messages weren't very helpful for me.
Situation: I've been using iPhone's Personal Hotspot as my primary internet connection for several weeks (recently moved to a new apartment and 400mbps+ download is more than enough for my needs.)
Solution: Temporarily disable optimized battery charging on iPhone.
Side note — if there are any Apple engineers on the relevant team reading, I'd consider this to be unexpected behavior. Xcode has had no problem downloading much larger files such as Simulator runtimes.
Topic:
Developer Tools & Services
SubTopic:
Xcode