CoreData: annotation: Failed to load optimized model (React Native)

I simply had to start XCode one time after the update and then I was asked if I want to install additional components. That's all.

+1 on what @Jan mentioned. This happened to me after upgrading XCode to latest, and then running react-native run-ios threw the same error. Booting up XCode prompted me to install additional components, and that resolved the issue.