'iOS Watch app fails to install - WatchKit 1.0 apps are no longer installable on this watchOS version

I have added Watch App target for existing iOS app but I have problem to install it on watch simulator. It always fails with this message

This app could not be installed at this time.
Domain: IXUserPresentableErrorDomain
Code: 1
Failure Reason: Could not install at this time.
Recovery Suggestion: WatchKit 1.0 apps are no longer installable on this watchOS version.
--
WatchKit 1.0 apps are no longer installable on this watchOS version.
Domain: MIInstallerErrorDomain
Code: 133
User Info: {
    FunctionName = "-[MIInstallableBundle _isValidWatchKitApp:withVersion:installableSigningInfo:error:]";
    LegacyErrorString = UnsupportedWatchKitVersion;
    SourceFileLine = 683;
}
--


System Information

macOS Version 10.15.4 (Build 19E287)
Xcode 11.4.1 (16137)

I have tried to create new sample app and it works fine. I compared both watch apps settings and they are same. Any idea what can be issue? Thanks



Solution 1:[1]

Found solution, which is totally unrelated to error message.

I changed Valid architectures in Build settings to $(ARCHS_STANDARD) for all targets.

Solution 2:[2]

In my case it was the different deployment target for the "WatchKit App" & "WatchKit Extension".

Solution 3:[3]

EDIT
I finally found a solution by creating the project from scratch. Moved all files into the new project from the old one.


I just realized the WatchOS deployment target is empty after creating the watch target. It is under the project settings, not the target settings. Nevertheless, setting the target did not help me, maybe will help you.

Build Settings

Sources

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Source: Stack Overflow

Solution Source
Solution 1 Martin Vandzura
Solution 2 Ahmadreza
Solution 3