Xcode 11.2.1GM was released this evening to fix a critical bug and now AppCode has slowed down terribly...
Answered
Specifically, after installing the latest Xcode 11.2.1 GM, when I open the latest EAP of AppCode or the latest release version, my 8 core iMac with 78GB of ram drops to its knees when parsing module maps of a project I have. Something bad is going on.
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AppCode contains prebuilt caches for the last few Xcode releases, so when it is first launched with a new unknown Xcode version, the first time it's going to take a while to build those caches.