Framework 'Rswift' not found error despite successful pod installation and working R.generated.swift

[ZAHID1989]

I'm getting the following error in my Xcode project:

Framework 'Rswift' not found
Details:

R.generated.swift is being created and works correctly in the project.
I’ve already tried:
pod install
pod update
pod deintegrate + pod install
The issue persists even after a clean build and deleting DerivedData.
Environment:

Xcode version: 16.3
CocoaPods version: 1.16.2
R.swift version: 7.3.2
Deployment target: iOS 13.0
Is this a known issue or is there something else I should check?

Thanks.