Xcode - Device is not paired with your computer

⚠️ iPhone is not paired with your computer.

To use iPhone with Xcode, unlock it and choose to trust this computer when prompted.

iPhone
iOS 15.0.2 (19A404)
Model: iPhone 12 mini
Capacity: Unknown
Serial Number: Unknown
Identifier: 00008101-00042XXXXXXXX

If you are trying to run your Application Xcode code on your iPhone or iPad device for the first time you may see the above error.

If you see the ERROR AND WARNING message, it says "iPhone is locked - to use with XCode, unlock it"

So it might be you have connected your device with your Macbook or iMac for the first time, unlock the device and try again, you should get a "Trust This Computer" option on your iPhone/iPad device.

Click on Trust and retry, the error should go away!