React-Native: Error: Failed to install CocoaPods dependencies for iOS project, which is required by this template

While executing npx react-native init MyProject I ran into the following error:

✖ Installing CocoaPods dependencies (this may take a few minutes)error Error: Failed to install CocoaPods dependencies for iOS project, which is required by this template.

Which seems to be related to an earlier error displayed:

checking for arm-apple-darwin-gcc... /Library/Developer/CommandLineTools/usr/bin/cc -arch armv7 -isysroot checking whether the C compiler works... noxcrun: error: SDK "iphoneos" cannot be locatedxcrun: error: SDK "iphoneos" cannot be locatedxcrun: error: SDK "iphoneos" cannot be locatedxcrun: error: unable to lookup item 'Path' in SDK 'iphoneos'

XCode and its CLI seem to all run fine.

My configuration:

• MacOS Catalina 10.15.1 (19B88)
• NPM 6.11.3
• React-Native 0.61.4
• XCode 11.2.1 (11B500)

Any leads appreciated.