Apple has announced that any apps submitted to the App Store after April 25, 2023, must be built with Xcode 14.1 or later.
Suppose your application does not require any special configurations. In that case, you should use the latest version of Xcode for the build environment. As of this writing, Xcode 14.3 has been released.
Suppose your project relies on older libraries, frameworks, or SDK versions. In that case, you will need to migrate to newer versions compatible with Xcode 14.1 or later.
Major updates to Xcode will cause the version of the linked SDK to change, which may lead to changes in app behavior. Also, some APIs are deprecated, so take action as soon as possible, including brushing up your code.