My /Library/Developer/CoreSimulator folder is 27 GB with /Library/Developer/CoreSimulator/Images taking up 15 GB and /Library/Developer/CoreSimulator/Profiles taking up 12 GB. Can I clear anything in these folders without breaking anything?
Keep in mind this is a different folder than ~/Library/Developer/CoreSimulator which is only 3 GB.
Run Xcode and go to the Settings screen then the Components tab. Look under the "Other Installed Platforms" section. It is those platforms that are taking up space in /Library/Developer/CoreSimulator.
If there are any entries under "Other Installed Platforms" that you no longer need, click on the entry and then click on the - icon or right-click on the entry and select Remove from the context menu.
Removing unneeded platforms from the Components tab in Xcode is safer than trying to delete files directly from the /Library/Developer/CoreSimulator folder.