update_dyld_sim_shared_cache is taking up a lot of memory
This specific program is used to update a separate dynamic linking cache for the Simulator app that comes with Xcode. It runs to update the cache at times such as for example after updating Xcode and after installing new iPhone/iPad/iOS/iPadOS models/versions in the simulator.
Normally it should run to completion within a reasonable time, and then go away until the next update.
If it keeps running for hours and hours, it is safe to stop the process. The cache will be updated automatically later as necessary.