I'm having this same problem? Storyboard with one navigation controller. Does it just not like the iOS16 Simulators? Will downloading a previous version of the simulator fix it?

Same here MacOSMonterey 12.6.1 (21G217) XCode 14.0 MacBook Pro (Retina, 13-inch, Early 2015) 8GB RAM Enter debugger: submitToRing: Work queue failure detected