UIScrollView Zooming & contentInset

Swift 5

func scrollViewDidZoom(_ scrollView: UIScrollView) {
    if scrollView.zoomScale > 1 {
        if let image = imageView.image {

            let ratioW = imageView.frame.width / image.size.width
            let ratioH = imageView.frame.height / image.size.height

            let ratio = ratioW < ratioH ? ratioW : ratioH

            let newWidth = image.size.width * ratio
            let newHeight = image.size.height * ratio

            let left = 0.5 * (newWidth * scrollView.zoomScale > imageView.frame.width ? (newWidth - imageView.frame.width) : (scrollView.frame.width - scrollView.contentSize.width))
            let top = 0.5 * (newHeight * scrollView.zoomScale > imageView.frame.height ? (newHeight - imageView.frame.height) : (scrollView.frame.height - scrollView.contentSize.height))

            scrollView.contentInset = UIEdgeInsets(top: top, left: left, bottom: top, right: left)
        }
    } else {
        scrollView.contentInset = UIEdgeInsets.zero
    }
}

for swift 4

func scrollViewDidZoom(_ scrollView: UIScrollView) {

        if scrollView.zoomScale > 1 {

            if let image = self.imageViewZoom.image {

                let ratioW = self.imageViewZoom.frame.width / image.size.width
                let ratioH = self.imageViewZoom.frame.height / image.size.height

                let ratio = ratioW < ratioH ? ratioW:ratioH

                let newWidth = image.size.width*ratio
                let newHeight = image.size.height*ratio

                let left = 0.5 * (newWidth * scrollView.zoomScale > self.imageViewZoom.frame.width ? (newWidth - self.imageViewZoom.frame.width) : (scrollView.frame.width - scrollView.contentSize.width))
                let top = 0.5 * (newHeight * scrollView.zoomScale > self.imageViewZoom.frame.height ? (newHeight - self.imageViewZoom.frame.height) : (scrollView.frame.height - scrollView.contentSize.height))

                scrollView.contentInset = UIEdgeInsetsMake(top, left, top, left)
            }
        } else {
            scrollView.contentInset = UIEdgeInsets.zero
        }
    }

Your approach looks correct. You need to update your code as below.

    func scrollViewDidZoom(scrollView: UIScrollView) {
    
    if scrollView.zoomScale > 1 {
        
        if let image = imageView.image {
            
            let ratioW = imageView.frame.width / image.size.width
            let ratioH = imageView.frame.height / image.size.height
            
            let ratio = ratioW < ratioH ? ratioW:ratioH
            
            let newWidth = image.size.width*ratio
            let newHeight = image.size.height*ratio
            
            let left = 0.5 * (newWidth * scrollView.zoomScale > imageView.frame.width ? (newWidth - imageView.frame.width) : (scrollView.frame.width - scrollView.contentSize.width))
            let top = 0.5 * (newHeight * scrollView.zoomScale > imageView.frame.height ? (newHeight - imageView.frame.height) : (scrollView.frame.height - scrollView.contentSize.height))
            
            scrollView.contentInset = UIEdgeInsetsMake(top, left, top, left)
        }
    } else {
        scrollView.contentInset = UIEdgeInsetsZero
    }
}

Swift 5

    func scrollViewDidZoom(scrollView: UIScrollView) {
    
    if scrollView.zoomScale > 1 {

        if let image = imageView.image {

            let ratioW = imageView.frame.width / image.size.width
            let ratioH = imageView.frame.height / image.size.height

            let ratio = ratioW < ratioH ? ratioW:ratioH

            let newWidth = image.size.width*ratio
            let newHeight = image.size.height*ratio

            let left = 0.5 * (newWidth * scrollView.zoomScale > imageView.frame.width ? (newWidth - imageView.frame.width) : (scrollView.frame.width - scrollView.contentSize.width))
            let top = 0.5 * (newHeight * scrollView.zoomScale > imageView.frame.height ? (newHeight - imageView.frame.height) : (scrollView.frame.height - scrollView.contentSize.height))

            scrollView.contentInset = UIEdgeInsets(top: top, left: left, bottom: top, right: left)
        }
    } else {
        scrollView.contentInset = .zero
    }
}