It does work when external virtual addressing is turned on Apple Developer page for the appid. This only works for paid Developer accounts, which I have. However it's impossible to sideload even with Xcode, error message is as follows:
Error Domain=MIInstallerErrorDomain Code=86 "Device iPhone16,1 not in SupportedDevices list for com.epicgames.FortniteGame : (
"MacFamily20,1",
"RealityFamily22,1",
"iPad11,1",
"iPad11,2",
"iPad11,3",
"iPad11,4",
"iPad11,6",
"iPad11,7",
"iPad12,1",
"iPad12,2",
"iPad13,1",
"iPad13,10",
"iPad13,11",
"iPad13,16",
"iPad13,17",
"iPad13,18",
"iPad13,19",
"iPad13,2",
"iPad13,4",
"iPad13,5",
"iPad13,6",
"iPad13,7",
"iPad13,8",
"iPad13,9",
"iPad14,1",
"iPad14,10",
"iPad14,11",
"iPad14,2",
"iPad14,3-A",
"iPad14,3-B",
"iPad14,4-A",
"iPad14,4-B",
"iPad14,5-A",
"iPad14,5-B",
"iPad14,6-A",
"iPad14,6-B",
"iPad14,8",
"iPad14,9",
"iPad16,3-A",
"iPad16,3-B",
"iPad16,4-A",
"iPad16,4-B",
"iPad16,5-A",
"iPad16,5-B",
"iPad16,6-A",
"iPad16,6-B",
"iPad5,1",
"iPad5,2",
"iPad5,3",
"iPad5,4",
"iPad6,11",
"iPad6,12",
"iPad6,3",
"iPad6,4",
"iPad6,7",
"iPad6,8",
"iPad7,1",
"iPad7,11",
"iPad7,12",
"iPad7,2",
"iPad7,3",
"iPad7,4",
"iPad7,5",
"iPad7,6",
"iPad8,1",
"iPad8,10",
"iPad8,11",
"iPad8,12",
"iPad8,2",
"iPad8,3",
"iPad8,4",
"iPad8,5",
"iPad8,6",
"iPad8,7",
"iPad8,8",
"iPad8,9"
)"