Getting the same problem on Xcode 12.2 (12B45b)

Same here, does anyone know how to fix it?

Same here, does anyone know the root cause?

Xcode 12.5.1 still slow at launching the Simulator - iPhone 11 Pro Max (iOS 14.5) but at least I can testing on Simulator

Got the same problem, "add some events in the recording options" in “File” > “Recording Options…” doesn't work!