Dyld Error Message:dyld_sim is not compatible with the loaded process, likely due to architecture mismatch

I am building a react native iOS app.I have to submit simulator build to facebook in order to review my app (my app isn't live yet).

I am using following commands to generate the simulator build.

xcodebuild -arch i386 -sdk iphonesimulator13.2 -workspace Project_Name.xcworkspace -scheme Project_Name

Once I get Build Succeeded message I want to verify the build using command -

2.ios-sim launch /Users/saket/Library/Developer/Xcode/DerivedData/Project_Name-bkjjtovswivrldcaslxqeprbkhxr/Build/Products/Release-iphonesimulator/App.app --devicetypeid iPhone-11

It then starts simulator but my app crashes on start and I get following error in crash report of the simulator.

Crashed Thread:        Unknown
Exception Type:        EXC_CRASH (SIGABRT)
Exception Codes:       0x0000000000000000, 0x0000000000000000
Exception Note:        EXC_CORPSE_NOTIFY
Termination Reason:    DYLD, [0x9] <unknown>
Dyld Error Message:
  dyld_sim is not compatible with the loaded process, likely due to architecture mismatch
Binary images description not available

Configurations

Xcode version: 11.3.1

Xcode Build version: 11C504

Simulator: iPhone 11

OS: Mac OS X 10.15.2 (19C57)

react-native version: 0.60.5