Fix Mac: A software update is required to connect to iPhone

I recently updated my iPhone to the latest developer beta of iOS 17. Post that when I connect my iPhone to my Mac running on macOS Ventura, I see this message prompt.

A software update is required to connect to iPhone
Would you like to download and install this update now?
Use of this software is subject to the original Software License 
Agreement (s) that accompanied the software being updated.

After clicking on install, the download starts.

And once the download completes, the installation starts.

But eventually it fails.

Installation failed

Can't install the software because it is not currently available
from the Software Update server.

Looking on Apple's support website I found this: https://support.apple.com/en-us/HT208831

After updating my Macbook with the latest available software update I was able to fix this issue!

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