Note: You can compile with any version of Xcode > 10.1, but might run into issues around Qt. The next step is to to accept the license and install the command line tools. Move Xcode to the Applications folder and you are good to go. Simply double-click the xip file and it will extract the Xcode application. From the App store, or use this direct link to get xcode 10.1.
We use xcode 10.1 and encourage you to use the same version. We have pinned the compiler and MacOS SDK on the build bots to make sure we do not encounter unexpected issues. Throughout the emulator code base and documentation we ofter refer to MacOS as Darwin. This document describes how to get started with emulator development under MacOS.