ionic serve on iOS 14 device. Error "Invalid Service"

After upgrading an iPhone6s to iOS 14 and Xcode to the latest version, I am unable to serve the app.

The error stack is as following

Error: InvalidService
    at LockdownProtocolReader.parseBody (/usr/local/lib/node_modules/native-run/node_modules/node-ioslib/dist/protocol/lockdown.js:35:19)
    at LockdownProtocolReader.onData (/usr/local/lib/node_modules/native-run/node_modules/node-ioslib/dist/protocol/protocol.js:52:40)
    at TLSSocket.emit (events.js:315:20)
    at addChunk (_stream_readable.js:295:12)
    at readableAddChunk (_stream_readable.js:271:9)
    at TLSSocket.Readable.push (_stream_readable.js:212:10)
    at TLSWrap.onStreamRead (internal/stream_base_commons.js:186:23)

running with --verbose shows the origin of the error

client:lockdownd startService: com.apple.debugserver +898ms
  protocol:lockdown socket write: {"Request":"StartService","Service":"com.apple.debugserver"} +206ms
  protocol:lockdown Response: {"Error":"InvalidService","Request":"StartService","Service":"com.apple.debugserver"} +6ms
  native-run Caught fatal error: Error: InvalidService

my serve script is

ionic cordova run iOS --l --debug --device --address=0.0.0.0 --sourceMap=true

Ionic info:

Ionic:

   Ionic CLI                     : 6.11.8 (/usr/local/lib/node_modules/@ionic/cli)
   Ionic Framework               : @ionic/angular 5.2.2
   @angular-devkit/build-angular : 0.900.7
   @angular-devkit/schematics    : 9.1.4
   @angular/cli                  : 9.1.4
   @ionic/angular-toolkit        : 2.2.0

Cordova:

   Cordova CLI       : 9.0.0 (cordova-lib@9.0.1)
   Cordova Platforms : ios 5.1.1
   Cordova Plugins   : cordova-plugin-ionic-keyboard 2.2.0, cordova-plugin-ionic-webview 4.2.1, (and 20 other plugins)

Utility:

   cordova-res                          : not installed
   native-run (update available: 1.1.0) : 1.0.0

System:

   ios-deploy : 1.10.0
   ios-sim    : 8.0.2
   NodeJS     : v12.18.0 (/usr/local/bin/node)
   npm        : 6.14.5
   OS         : macOS Catalina
   Xcode      : Xcode 12.0 Build version 12A7209

what I have tried so far.

• reboot Mac
• reboot iPhone
• make sure latest iOS/Mac/Xcode version is installed
• clean build

running on emulator is working fine btw. I can also perform ionic build and run via Xcode on the device.

from ionic serve on iOS 14 device. Error "Invalid Service"