Xcode does not support devices running a newer version of iOS than the SDK version that comes with the particular version of Xcode. Xcode 14.2 comes with the iOS SDK 16.2. You won't be able to run your project on a device running anything newer than 16.2.
If you can't update Xcode, you will have to download the iOS 16.6 support files and copy them to your Xcode bundle. More details are in the following article:
https://www.swiftdevjournal.com/dealing-with-failed-to-prepare-device-for-development-error-message-in-xcode/
I also recommend turning off automatic updates on your iOS device. Every time your device updates, Xcode will stop working, and you will have to repeat the cycle of installing support files.
Topic:
Developer Tools & Services
SubTopic:
Xcode
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