I took a bit of a hiatus from iOS to work on an Angular project and had this surprise waiting for me when I came back :-) In my case, I think it had to do with the fact that Apple is merging its developer programs, (at least from what I understand they are merging their developer programs), and I had to accept their new agreements.
Anyways, to fix this I combined a lot of the answers you'll find here and scattered throughout the web.
First, make sure to accept any pending agreements through both iTunes Connect and Apple's developer center. Make sure to accept any agreements in the "Agreements, Tax and Banking" section in iTunes Connect.
Second, via Xcode, go to Preferences -> Accounts -> View Details and at the bottom left there should be an option to refresh your profiles. When I did this Xcode installed a few new profiles.
Finally, restart Xcode.
Give some time in between each step for Apple's servers to update if these steps don't work right away.