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react-native run-{ios,android} fails with Process terminated on launchPackager in 0.58.0-rc.3

See original GitHub issue

Environment

React Native Environment Info: System: OS: macOS High Sierra 10.13.6 CPU: (4) x64 Intel® Core™ i5-4278U CPU @ 2.60GHz Memory: 327.33 MB / 8.00 GB Shell: 3.2.57 - /bin/bash Binaries: Node: 11.2.0 - /usr/local/bin/node Yarn: 1.12.3 - /usr/local/bin/yarn npm: 6.4.1 - /usr/local/bin/npm Watchman: 4.9.0 - /usr/local/bin/watchman SDKs: iOS SDK: Platforms: iOS 12.1, macOS 10.14, tvOS 12.1, watchOS 5.1 Android SDK: API Levels: 16, 23, 24, 25, 26, 27, 28 Build Tools: 23.0.1, 25.0.0, 25.0.1, 25.0.2, 25.0.3, 26.0.1, 26.0.2, 26.0.3, 27.0.1, 27.0.2, 27.0.3, 28.0.2, 28.0.3 System Images: android-16 | Google APIs Intel x86 Atom, android-26 | Google APIs Intel x86 Atom_64, android-27 | Google APIs Intel x86 Atom IDEs: Android Studio: 3.1 AI-173.4819257 Xcode: 10.1/10B61 - /usr/bin/xcodebuild npmPackages: react: 16.6.3 => 16.6.3 react-native: 0.58.0-rc.3 => 0.58.0-rc.3 npmGlobalPackages: create-react-native-app: 2.0.2 react-native-cli: 2.0.1 react-native-create-library: 3.1.2 react-native-git-upgrade: 0.2.7 react-native-init: 0.6.7

Description

react-native run-{ios,android} and starting from xcode fails in a clean react-native init project with latest 0.58.0-rc.3 metro fails with Process terminated running react-native start allows metro to start