If Xcode is acting up for you the way it is for me, you may want to step back from automated migration and just do it by hand. I spent far too much time this morning trying to get Xcode to finish migrating for what were extremely trivial changes.

If you’re going by hand, make sure to change your “didFinishLaunching” launch options (in your App delegate) from [UIApplicationLaunchOptionsKey: Any] to use UIApplication.LaunchOptionsKey. (Notice the period in the name.)

To set the compiler from Swift 4 to Swift 4.2, open Target > Build Settings. Navigate to Swift Language Version and use the pop-up to select the proper compiler:

For some projects (especially small sample code) this alone may be sufficient to get you back and working.