Invalid Provisioning Profile Signature – STATE_ERROR.VALIDATION_ERROR.90165

The issue was caused by two expired Apple certificates¹.

Solution is to

1. Go to Certificates, Identifiers & Profiles
2. Open the provision profile
3. Press Edit in the top right
4. Press Save without making any changes
   This will regenerate the profile with the correct CAs.

Now delete the ~/Library/MobileDevice/Provisioning Profiles folder and let xcode redownload the profiles again.

¹ https://twitter.com/JI/status/1514043544897425408