Xcode's metal shader compiler was not found, verify Xcode

That’s right. Which XCode version to be used can be checked in the Release Notes.
Unreal Engine 4.22 Release Notes: https://docs.unrealengine.com/en-US/…_22/index.html

Choose/Switch XCode version used by unreal with MacOS terminal command:
sudo xcode-select -switch /PathToXCodeVersion/Contents/Developer

for example:
sudo xcode-select -switch /Applications/XCode10.1/Xcode.app/Contents/Developer.