Warning: Maximum update depth exceeded. IN React Native after update to "react-native": "^0.75.1",

I am facing this error even after looking all possible solutions. Previously my code worked perfectly but after I updated react native, I get this warning over and over again Even when I comment out most the code including "useEffect" hook
Could anyone help me so I can get out of this. I am really stuck. I almost post the whole code. The error is "Maximum update depth exceeded. This can happen when a component calls setState inside useEffect, but useEffect either doesn’t have a dependency array, or one of the dependencies changes on every render"

import {
  View,
  ScrollView,
  StyleSheet,
  TouchableOpacity,
  Alert,
  PermissionsAndroid,
  Platform,
  Image,
  Switch,
} from 'react-native';
import CheckBox from '@react-native-community/checkbox';
import {Text, Button, Input} from 'react-native-elements';
import BackHeader from '../../../Navigation/BackHeader';
import {
  createRental,
  getRentalFrequencies,
} from '../../../services/RentalService';
import {launchCamera, launchImageLibrary} from 'react-native-image-picker';
import Icon from '../../../consts/Icon';
import Geolocation from '@react-native-community/geolocation';
import COLORS from '../../../consts/colors';
import {useNavigation} from '@react-navigation/native';
import {useDispatch, useSelector} from 'react-redux';
import NetInfo from '@react-native-community/netinfo';
import Spinner from 'react-native-loading-spinner-overlay';
import BottomSheet from '../../../components/BottomSheet';
import imagePath from '../../../consts/imagePath';
import {fetchMyRentals} from '../../../store/myRentalsSlice';

import {Picker} from '@react-native-picker/picker';
const AddRentalScreen = () => {
  const navigation = useNavigation();
  const owner = useSelector(state => state.user.user);
  const [step, setStep] = useState(1);
  const [rentalFreqs, setRentalFreqs] = useState([]);
  const [isCurrentLocation, setIsCurrentLocation] = useState(true);
  const [villages, setVillages] = useState([]);
  const [selectedVillage, setSelectedVillage] = useState(null);
  const [useCurrentLocation, setUseCurrentLocation] = useState(true);
  const [nearVillage, setNearVillage] = useState('');
  const [isStep1Valid, setIsStep1Valid] = useState(false);
  const [isStep2Valid, setIsStep2Valid] = useState(false);
  const [isStep3Valid, setIsStep3Valid] = useState(false);
  const [isStep4Valid, setIsStep4Valid] = useState(false);
  const [isStep5Valid, setIsStep5Valid] = useState(false);
  const [loading, setLoading] = useState(false);

  const [formData, setFormData] = useState({
    titles: '',
    currency: 'UGX',
    price: '',
    nmonths: '',
    utilities: '',
    frequency: '',
    conditions: '',
    address: '',
    province: '',
    village: '',
    parking: false,
    amenities: '',
    toilet: '',
    surfaceArea: '',
    images: [],
    propertyDetails: '',
    villageId: '',
    latitude: 0.0,
    longitude: 0.0,
    rentalType: 'RESIDENTIAL',
    bedrooms: '',
    bedRoomLength: '',
    bedRoomWidth: '',
    bathrooms: '',
    livingrooms: '',
    livingroomLength: '',
    livingroomWidth: '',
    hasBalcony: false,
    hasGarden: false,
    hasGarage: false,
    hasRestRoom: false,
    hasSwimmingPool: false,
    hasSecuritySystem: false,
    hasMultipleRooms: false,
    noOfRooms: '',
    noOfToilets: '',
    isSelfContained: false,
    isKitchenIn: false,
    hasSecurityPersonnel: false,
    enclosedInGate: false,
    dogPresent: false,
    privateOffices: '',
    conferenceRooms: '',
    workstations: '',
    hasReceptionArea: false,
    hasKitchenette: false,
    hasBreakRoom: false,
    hasHighSpeedInternet: false,
    has24x7Security: false,
    hasFitnessCenter: false,
    hasCafeteria: false,
    hasStorageRoom: false,
    hasDisplayWindow: false,
    nearbyAmenities: '',
    footTraffic: 'LOW',
    publicTransportAccessibility: '',
    competitionLevel: 'LOW',
    safetyAndSecurity: '',
    zoning: '',
    proximityToResidentialAreas: '',
    proximityToSchools: '',
    proximityToParks: '',
    proximityToCommunityCenters: '',
    proximityToMarkets: '',
    trafficPatterns: '',
    hasStoreyedStructure: false,
    floorNumber: '',
    totalLengthInFeet: '',
    totalWidthInFeet: '',
  });
  const bottomSheetRef = useRef();
  const watchIdRef = useRef(null);
  const dispatch = useDispatch();
  const handleSelectRentalType = useCallback(value => {
    setFormData({...formData, rentalType: value});
  }, []);
  const handleFrequencyChange = useCallback(value => {
    setFormData({...formData, frequency: value});
  }, []);
  const handleCurrencySelect = useCallback(value => {
    setFormData({...formData, currency: value});
  }, []);
  const getCurrentLocation = () => {
    if (watchIdRef.current) {
      Geolocation.clearWatch(watchIdRef.current);
    }
    watchIdRef.current = Geolocation.getCurrentPosition(
      position => {
        const {latitude, longitude} = position.coords;
        const googleLocation = `${latitude},${longitude}`;
        console.log(googleLocation, 'location');
        setFormData({...formData, latitude: latitude, longitude: longitude});
      },
      error => {
        console.log(error.message);
      },
      {enableHighAccuracy: false, timeout: 40000, maximumAge: 10000},
    );
  };
  const validateStep1 = () => {
    const {titles, currency, price, nmonths, utilities, frequency} = formData;
    return titles && currency && price && nmonths && utilities && frequency;
  };
  const validateStep2 = () => {
    const {address, province} = formData;
    return address && province && (isCurrentLocation || selectedVillage);
  };
  const validateStep3 = () => {
    const {
      rentalType,
      hasMultipleRooms,
      bedrooms,
      bedRoomLength,
      bedRoomWidth,
      bathrooms,
      livingrooms,
      livingroomLength,
      livingroomWidth,
      privateOffices,
      conferenceRooms,
      workstations,
      totalLengthInFeet,
      totalWidthInFeet,
      trafficPatterns,
      footTraffic,
      competitionLevel,
      zoning,
      hasStoreyedStructure,
      floorNumber,
      proximityToResidentialAreas,
      proximityToSchools,
      proximityToParks,
      proximityToCommunityCenters,
      proximityToMarkets,
    } = formData;
    const sharedValidations = totalLengthInFeet && totalWidthInFeet;
    if (rentalType === 'RESIDENTIAL') {
      return (
        sharedValidations &&
        (hasMultipleRooms
          ? bedrooms &&
            bedRoomLength &&
            bedRoomWidth &&
            bathrooms &&
            livingrooms &&
            livingroomLength &&
            livingroomWidth
          : true)
      );
    } else if (rentalType === 'OFFICE') {
      return (
        privateOffices &&
        conferenceRooms &&
        workstations &&
        totalLengthInFeet &&
        totalWidthInFeet
      );
    } else if (rentalType === 'SHOP') {
      return (
        sharedValidations &&
        footTraffic &&
        competitionLevel &&
        zoning &&
        (hasStoreyedStructure ? floorNumber : true) &&
        proximityToResidentialAreas &&
        proximityToSchools &&
        proximityToParks &&
        proximityToCommunityCenters &&
        proximityToMarkets &&
        trafficPatterns
      );
    }
  };
  const validateStep4 = () => {
    return formData.propertyDetails;
  };
  const validateStep5 = () => {
    return formData.images.length > 2;
  };
  const validateAllSteps = () => {
    const step1Valid = validateStep1();
    const step2Valid = validateStep2();
    const step3Valid = validateStep3();
    const step4Valid = validateStep4();
    const step5Valid = validateStep5();

    if (isStep1Valid !== step1Valid) setIsStep1Valid(step1Valid);
    if (isStep2Valid !== step2Valid) setIsStep2Valid(step2Valid);
    if (isStep3Valid !== step3Valid) setIsStep3Valid(step3Valid);
    if (isStep4Valid !== step4Valid) setIsStep4Valid(step4Valid);
    if (isStep5Valid !== step5Valid) setIsStep5Valid(step5Valid);

    return {
      isStep1Valid,
      isStep2Valid,
      isStep3Valid,
      isStep4Valid,
      isStep5Valid,
    };
  };
  const initialize = async () => {
    if (Platform.OS === 'android') {
      await requestCameraPermission();
      await requestStoragePermission();
    }
  };

    if (!formData.images.length) {
      Alert.alert('Please select at least one image');
      return;
    }
    const {roles, ...ownerWithoutRoles} = owner;
    const propertyData = {
      rentalType: formData.rentalType,
      title: formData.titles,
      owner: formData.ownerWithoutRoles,
      currency: formData.currency,
      propertyDetails: formData.propertyDetails,
      pricePerMonth: formData.price,
      initialPayMonth: formData.nmonths,
      rentFrequency: formData.frequency,
      utilitiesToPay: formData.utilities,
      latitude: isCurrentLocation ? formData.latitude : 0.0,
      longitude: isCurrentLocation ? formData.longitude : 0.0,
      addressName: formData.address,
      postalCode: formData.postal_code,
      province: formData.province,
      isParkingAvailable: formData.parking,
      totalLengthInFeet: formData.totalLengthInFeet,
      totalWidthInFeet: formData.totalWidthInFeet,
    };
    if (propertyData.rentalType === 'RESIDENTIAL') {
      Object.assign(propertyData, {
        noOfToilets: formData.toilet,
        noOfRooms: formData.bedrooms,
        isKitchenIn: formData.isKitchenIn,
        isSelfContained: formData.isSelfContained,
        conditionsOfStay: formData.conditions,
        hasMultipleRooms: formData.hasMultipleRooms,
        isSelfContained: formData.isSelfContained,
        hasBalcony: formData.hasBalcony,
        hasGarden: formData.hasGarden,
        hasSwimmingPool: formData.hasSwimmingPool,
        hasGarage: formData.hasGarage,
        hasSecuritySystem: formData.hasSecuritySystem,
        isKitchenIn: formData.isKitchenIn,
        bedrooms: formData.bedrooms,
        bedRoomLength: formData.bedRoomLength,
        bedRoomWidth: formData.bedRoomWidth,
        livingrooms: formData.livingrooms,
        livingroomLength: formData.livingroomLength,
        livingroomWidth: formData.livingroomWidth,
        bathrooms: formData.bathrooms,
      });
    } else if (propertyData.rentalType === 'SHOP') {
      Object.assign(propertyData, {
        hasStorageRoom: formData.hasStorageRoom,
        hasStoreyedStructure: formData.hasStoreyedStructure,
        hasDisplayWindow: formData.hasDisplayWindow,
        hasRestRoom: formData.hasRestRoom,
        footTraffic: formData.footTraffic,
        zoning: formData.zoning,
        competitionLevel: formData.competitionLevel,
        trafficPatterns: formData.trafficPatterns,
        floorNumber: formData.floorNumber,
        proximityToResidentialAreas: formData.proximityToResidentialAreas,
        proximityToSchools: formData.proximityToSchools,
        proximityToParks: formData.proximityToParks,
        proximityToCommunityCenters: formData.proximityToCommunityCenters,
        proximityToMarkets: formData.proximityToMarkets,
      });
    } else if (propertyData.rentalType === 'OFFICE') {
      Object.assign(propertyData, {
        privateOffices: formData.privateOffices,
        conferenceRooms: formData.conferenceRooms,
        workstations: formData.workstations,
        hasReceptionArea: formData.hasReceptionArea,
        hasKitchenette: formData.hasKitchenette,
        hasBreakRoom: formData.hasBreakRoom,
        hasHighSpeedInternet: formData.hasHighSpeedInternet,
        has24x7Security: formData.has24x7Security,
        hasFitnessCenter: formData.hasFitnessCenter,
        hasCafeteria: formData.hasCafeteria,
      });
    }
    const fileObjects = formData.images.map(image => image.file);
    const rentalData = {
      property: propertyData,
      files: fileObjects,
    };
    setLoading(true);
    const resp = await createRental(rentalData);
    if (resp?.status === 202) {
      setLoading(false);
      dispatch(fetchMyRentals(owner.id));
      bottomSheetRef.current.open();
    } else if (resp?.status === 400) {
      setLoading(false);
      Alert.alert('Bad Request!');
    } else {
      setLoading(false);
      Alert.alert('Error Registering rental.' + resp._response);
    }
  };
  const handleImageUpload = imageNumber => {
    Alert.alert(
      'Choose Image Source',
      'Select the source for your image',
      [
        {
          text: 'Camera',
          onPress: () => launchCameraAction(imageNumber),
        },
        {
          text: 'Gallery',
          onPress: () => launchImageLibraryAction(imageNumber),
        },
      ],
      {cancelable: true},
    );
  };
  const handleImageRemoval = imageNumber => {
    const filteredImages = formData.images.filter(
      image => image.id !== imageNumber,
    );
    setFieldValue('images', filteredImages);
  };
  const onSetCurrentLocation = () => {
    setIsCurrentLocation(!isCurrentLocation);
    setUseCurrentLocation(!useCurrentLocation);
  };
  const launchCameraAction = async imageNumber => {
    const options = {
      mediaType: 'photo',
      maxWidth: 800,
      maxHeight: 600,
      quality: 1,
      includeBase64: true,
    };

    launchCamera(options, response => {
      if (response.didCancel) {
        console.log('User cancelled image picker');
      } else if (response.error) {
        console.log('ImagePicker Error: ', response.error);
      } else {
        console.log('response', response);
        const fileExtension = response.assets?.[0].fileName.split('.').pop();
        const imageData = {
          uri: response.assets?.[0].uri,
          base64: response.assets?.[0].base64,
          type: response.assets?.[0].type,
          name: `${imageNumber}.${fileExtension}`,
        };
        setFormData(prevFormData => ({
          ...prevFormData,
          images: [...prevFormData.images, {id: imageNumber, file: imageData}],
        }));
      }
    });
  };
  const launchImageLibraryAction = async imageNumber => {
    const options = {
      mediaType: 'photo',
      maxWidth: 800,
      maxHeight: 600,
      quality: 1,
      includeBase64: true,
    };
    launchImageLibrary(options, response => {
      if (response.didCancel) {
        console.log('User cancelled image picker');
      } else if (response.errorCode) {
        console.log('ImagePicker Error: ', response.errorMessage);
      } else {
        const fileExtension = response.assets?.[0].fileName.split('.').pop();
        const imageData = {
          uri: response.assets?.[0].uri,
          base64: response.assets?.[0].base64,
          type: response.assets?.[0].type,
          name: `${imageNumber}.${fileExtension}`,
        };
        setFormData(prevFormData => ({
          ...prevFormData,
          images: [...prevFormData.images, {id: imageNumber, file: imageData}],
        }));
      }
    });
  };
  const requestCameraPermission = async () => {
    try {
      const isGranted = await PermissionsAndroid.check(
        PermissionsAndroid.PERMISSIONS.CAMERA,
      );
      if (!isGranted) {
        const granted = await PermissionsAndroid.request(
          PermissionsAndroid.PERMISSIONS.CAMERA,
          {
            title: 'Camera Permission',
            message: 'This app requires access to your camera.',
            buttonNeutral: 'Ask Me Later',
            buttonNegative: 'Cancel',
            buttonPositive: 'OK',
          },
        );
        if (granted === PermissionsAndroid.RESULTS.GRANTED) {
          console.log('Camera permission granted');
        } else {
          console.log('Camera permission denied');
        }
      }
    } catch (err) {
      console.warn(err);
    }
  };
  const requestStoragePermission = useCallback(async () => {
    try {
      const granted = await PermissionsAndroid.request(
        PermissionsAndroid.PERMISSIONS.READ_EXTERNAL_STORAGE,
        {
          title: 'Storage Permission',
          message: 'This app requires access to your storage.',
          buttonNeutral: 'Ask Me Later',
          buttonNegative: 'Cancel',
          buttonPositive: 'OK',
        },
      );
      if (granted === PermissionsAndroid.RESULTS.GRANTED) {
        console.log('Storage permission granted');
      } else {
        console.log('Storage permission denied');
      }
    } catch (err) {
      console.warn(err);
    }
  }, []);
  const step1 = useMemo(() => {
    return (
      <>
        <Text h4>Basic Information</Text>
        <View style={{margin: 12}}>
          <Text style={styles.dropDownLabel}>Rental Type</Text>
          <View
            style={{
              borderBottomWidth: 1,
              borderBottomColor: '#ccc',
              paddingBottom: 4,
            }}>
            <Picker
              mode="dropdown"
              selectedValue={formData.rentalType}
              onValueChange={val => handleSelectRentalType(val)}>
              <Picker.Item label="Residential" value="RESIDENTIAL" />
              <Picker.Item label="Business" value="SHOP" />
              <Picker.Item label="Office" value="OFFICE" />
            </Picker>
          </View>
        </View>
        <Input
          label="Title"
          placeholder="ex: Modern Apartment Downtown..."
          value={formData.titles}
          onChangeText={text => setFormData({...formData, titles: text})}
        />
        <View style={{margin: 12}}>
          <Text style={styles.dropDownLabel}>Currency</Text>
          <View
            style={{
              borderBottomWidth: 1,
              borderBottomColor: '#ccc',
              paddingBottom: 4,
            }}>
            <Picker
              mode="dropdown"
              selectedValue={formData.currency}
              onValueChange={val => handleCurrencySelect(val)}>
              <Picker.Item label="UGX" value="UGX" />
              <Picker.Item label="USD" value="USD" />
              <Picker.Item label="KSH" value="KSH" />
              <Picker.Item label="TSH" value="TSH" />
              <Picker.Item label="CDF" value="CDF" />
            </Picker>
          </View>
        </View>
        <Input
          label="Price"
          placeholder="Ex: 500,000"
          value={formData.price}
          keyboardType="numeric"
          onChangeText={text => setFormData({...formData, price: text})}
        />
        <Input
          label="Initial payment (New tenant pay at start)"
          placeholder="Ex: 3 (Ex: Meaning three Months)"
          value={formData.nmonths}
          keyboardType="numeric"
          onChangeText={text => setFormData({...formData, nmonths: text})}
        />
        <Input
          label="Utilities to pay (Client's seperate utilities)"
          placeholder="Ex: Electricity"
          value={formData.utilities}
          onChangeText={text => setFormData({...formData, title: text})}
        />
        <View style={{margin: 12}}>
          <Text style={styles.dropDownLabel}>
            Rent Frequency (Rent paid every ...)
          </Text>
          <View
            style={{
              borderBottomWidth: 1,
              borderBottomColor: '#ccc',
              paddingBottom: 4,
            }}>
            <Picker
              mode="dropdown"
              selectedValue={formData.frequency}
              onValueChange={val => handleFrequencyChange(val)}>
              {rentalFreqs.map((freq, index) => (
                <Picker.Item key={index} label={freq.name} value={freq.name} />
              ))}
            </Picker>
          </View>
        </View>
        <Input
          label="Conditions of stay"
          placeholder="Any brief rules"
          multiline={true}
          value={formData.conditions}
          onChangeText={text => setFormData({...formData, title: text})}
        />
      </>
    );
  }, [rentalFreqs]);
  const step2 = useMemo(() => {
    return (
      <>
        <Text h4>Address Information</Text>
        <Input
          label="Address"
          placeholder="Address of the rental"
          value={formData.address}
          onChangeText={text => setFormData({...formData, address: text})}
        />
        <Input
          label="District"
          placeholder="District of the rental"
          value={formData.province}
          onChangeText={text => setFormData({...formData, province: text})}
        />
        <View style={{width: '100%', alignContent: 'flex-start'}}>
          <View
            style={{
              width: '100%',
              flexDirection: 'row',
              alignItems: 'center',
              marginBottom: 10,
            }}>
            <CheckBox
              value={isCurrentLocation}
              onValueChange={onSetCurrentLocation}
            />
            <Text>Use my current Location for rental location?</Text>
          </View>
        </View>
      </>
    );
  }, []);
  return (
    <View style={styles.container}>
      <BackHeader navigation={navigation} title={`Add Rental`} />
      <ScrollView style={styles.scrollView}>
        <View style={styles.formContainer}>
          {step === 1 && step1}
          {step === 2 && step2}
          {step === 3 && step3}
          {step === 4 && step4}
          {step === 5 && step5}
          {step === 6 && step6}
        </View>
      </ScrollView>
      <View
        style={[
          styles.navigationView,
          {
            flexDirection: step < 2 ? 'column' : 'row',
            justifyContent: step < 2 ? 'flex-end' : 'space-between',
          },
        ]}>
        <Spinner
          visible={loading}
          textContent={'submitting...'}
          textStyle={styles.spinnerTextStyle}
        />
        {step > 1 && <Button title="Previous" onPress={handlePreviousStep} />}
        <Button
          title={step === 6 ? 'Submit' : 'Next'}
          onPress={step === 6 ? handleSubmitForm : handleNextStep}
          disabled={
            (step === 1 && !isStep1Valid) ||
            (step === 2 && !isStep2Valid) ||
            (step === 3 && !isStep3Valid) ||
            (step === 4 && !isStep4Valid) ||
            (step === 5 && !isStep5Valid)
          }
          buttonStyle={
            step === 6
              ? styles.submitButton
              : step < 2
              ? styles.largeButton
              : styles.defaultButton
          }
          titleStyle={step < 2 ? styles.buttonTitle : null}
        />
      </View>
      <BottomSheet bottomSheetRef={bottomSheetRef}>
        <View style={styles.sheetContent}>
          <Image
            source={imagePath.checkedSuccess}
            style={styles.checkedImage}
          />
          <Text style={styles.successText}>
            Rental successfully Registered!
          </Text>
          <TouchableOpacity
            style={styles.okButton}
            onPress={() => navigation.goBack()}>
            <Text style={styles.okButtonText}>OK</Text>
          </TouchableOpacity>
        </View>
      </BottomSheet>
    </View>
  );
};
export default React.memo(AddRentalScreen);

Where could I have gone wrong? Please help me