error: The data couldn’t be read because it isn’t in the correct format.

I did Pod install and then double click .xcworkspace file to open it in xcode. On building the project it returning this one error "error: The data couldn’t be read because it isn’t in the correct format." No other logs are present. Sharing the details here:
CocoaPods : 1.13.0
Ruby : ruby 3.2.2 (2023-03-30 revision e51014f9c0) [arm64-darwin22]
RubyGems : 3.4.19
Host : macOS 13.5.1 (22G90)
Xcode : 14.3.1 (14E300c)
Git : git version 2.39.2 (Apple Git-143)
Ruby lib dir : /opt/homebrew/Cellar/ruby/3.2.2_1/lib
Repositories : trunk - CDN - https://cdn.cocoapods.org/
Apple with M1 chip

I have tried every step I got with stackoverflow answers, have formatted the sytem to do a fresh installation of project, still same issue. Please help if someone knows about this issue.

The issue names no source file, test, or entry point. Start by reproducing the build with the listed CocoaPods, Ruby, macOS, and Xcode versions, then inspect the generated workspace and available build output; done means identifying a specific cause or obtaining a reproducible failure with actionable logs.

Written by the indexing model from the issue text.