Update Xcode to 12.3 and your device to 14.3 while they are still available. Once 14.4 is released, you will no longer be able to install 14.3, and a new Xcode will likely be released into the App store within a few days.
Disable Automatic Updates on your device.
Wait for others to test and make sure there are no build issues before installing 14.4. It could take a few days, or it could take weeks if issues are found that the developers need to fix.
You do not need to update Loop, this is about Xcode and iOS. Read the link below for more information.
Check out this page, and keep checking back to see when the all clear is given.
https://35.92.135.207/version-updates/
