Like others, I was pulling my hair out with constantly spinning cursors with 12.3 on Big Sur 11.1.
Downgrading to 12.2 immediately solved the problem, and I have been working for three weeks with no problem.
XCode 12.4 was released today, and I installed it and have had no problems so far.
FWIW, I have not yet installed Command Line Tools for Xcode 12.4 -- I'm still running 12.2 of those.
Topic:
Developer Tools & Services
SubTopic:
Xcode
Tags: