Project Config Cache is not updating Xcode version

Environment
Provide version numbers for the following components (information can be retrieved by running tns info in your project folder or by inspecting the package.json of the project):

• CLI: 7.0.8

Describe the bug
When running ns run ios --log trace the Project info that is displayed doesn't reflect the same info from ns doctor.

This is the relevant piece from ns run ios --log trace. If you compare the Xcode version shown here it doesn't match the Xcode version when I run ns doctor.

Project Config Service using legacy configuration...
Initializing analytics statuses.
Analytics statuses:  { TrackFeatureUsage: 'disabled', TrackExceptions: 'disabled' }
getInfos cacheConfig options: { forceCheck: undefined }  current info from cache:  [ { message: 'Xcode is installed and is configured properly.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'xcodeproj is installed and is configured properly.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'CocoaPods are installed.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'CocoaPods update is not required.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'CocoaPods are configured properly.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'Your current CocoaPods version is newer than 1.0.0.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'Python installed and configured correctly.',
    platforms: [ 'iOS' ],
    type: 'info' },
  { message: 'The Python \'six\' package is found.',
    platforms: [ 'iOS' ],
    type: 'info' },
  **{ message:
     'Xcode version 11.5.0 satisfies minimum required version 10.',
    platforms: [ 'iOS' ],
    type: 'info' }** ]
Xcode is installed and is configured properly.
xcodeproj is installed and is configured properly.
CocoaPods are installed.
CocoaPods update is not required.
CocoaPods are configured properly.
Your current CocoaPods version is newer than 1.0.0.
Python installed and configured correctly.
The Python 'six' package is found.
**Xcode version 11.5.0 satisfies minimum required version 10.**

Result from ns doctor

No issues were detected.
✔ Your ANDROID_HOME environment variable is set and points to correct directory.
✔ Your adb from the Android SDK is correctly installed.
✔ The Android SDK is installed.
✔ A compatible Android SDK for compilation is found.
✔ Javac is installed and is configured properly.
✔ The Java Development Kit (JDK) is installed and is configured properly.
✔ Xcode is installed and is configured properly.
✔ xcodeproj is installed and is configured properly.
✔ CocoaPods are installed.
✔ CocoaPods update is not required.
✔ CocoaPods are configured properly.
✔ Your current CocoaPods version is newer than 1.0.0.
✔ Python installed and configured correctly.
✔ The Python 'six' package is found.
**✔ Xcode version 12.0.0 satisfies minimum required version 10.**

I'm not sure how to clear the cache that's being picked up on ns run ios but I'm having issues with the command line starting the app on my phone with iOS 14. I can start it fine from Xcode but it won't start from ns run ios and I think it might be related to ns run ios using an old Xcode version.

Start by reproducing the discrepancy with ns run ios --log trace and ns doctor, focusing on the Project Config Service's cached information and the reported Xcode version. Trace how the cache is read during ns run ios and compare it with the fresh value from ns doctor; done means both commands report the current Xcode version.