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There could be a few reasons for the inability to run a build in Xcode 14.3 due to the absence of an arc file, but one likely possibility is that the project may be using Automatic Reference Counting (ARC) and the necessary .arc file is missing or corrupted. ARC is a memory management technique used in Objective-C and Swift programming languages that helps automatically manage memory usage in an application.

If the .arc file is missing, Xcode may not be able to properly compile and link the application code. It may also result in runtime errors or crashes due to memory management issues.

To fix this issue, one can try to locate or recreate the missing .arc file and add it to the project. Alternatively, one can convert the project to use manual memory management instead of ARC. This may require significant changes to the code, but it could be a solution if the missing .arc file cannot be found or created.