appium: WebDriverAgent starts but crashes on iOS 14.5.1 and Xcode 12.5

The problem

I am trying to run webdriveragent using the command “xcodebuild test-without-building -xctestrun”, the webdriveragent starts but it crashes with the below message, and I am not sure why.

** BUILD INTERRUPTED **
zsh: terminated  /Applications/Xcode.app/Contents/Developer/usr/bin/xcodebuild  -xctestrun

Environment

• Appium version - 1.20.2
• Last Appium version that did not exhibit the issue (if applicable): NA
• Desktop OS/version used to run Appium: MACOS BigSur - 11.2.3
• Node.js version (unless using Appium.app|exe): v12.18.3
• Npm or Yarn package manager: NPM
• Mobile platform/version under test: iOS/14.5.1
• Real device or emulator/simulator: Real Device
• Appium CLI or Appium.app|exe: Appium CLI
• Xcode version: 12.5

Details

The webdriveragent successfully runs without crashing if I downgrade the Xcode version to 12.4 and iOS version below 14.5.

Link to Appium logs

https://gist.github.com/sai-tirunagiri/83189c2f37cc6c3c11645adb21c9c31b

Please advice.

Thanks.