react-devtools is empty for new react-native project

I just generated a clean React Native (w/ TS) project. When I run it in the iOS simulator then try to connect to react-devtools, devtools is completely blank.

I would expect to see the default component tree here. Any idea how I should debug?

1. Here I have just run npx react-native run-ios:

2. Now I press cmd+D to load the debug menu. This causes react-devtools to connect, but the project component tree is blank.