By upgrading to Xcode 4.3, you may find that installing iOS Simulator 4.2 from Xcode itself is not available. However, if your project has a need for this simulator, then a simple installation guide is below.
In this image there is a hidden folder in which you can go through the Finder menu " Go to Folder ... ". Enter this path: / Volumes / Xcode and iOS SDK / Packages /
In the list of files, find " iPhoneSimulatorSDK4_2.pkg " and double-click on it;
Install this package in any temporary directory. Later it can be removed.
After installation, go to this directory and go to the following path: /Platforms/iPhoneSimulator.platform/Developer/SDKs and find iPhoneSimulator4.2.sdk
Now find where you have installed Xcode 4.3 and, by right-clicking on its icon, select the Show Package Contents menu;
Go to the /Contents/Developer/Platforms/iPhoneSimulator.platform/Developer/SDKs directory
In this folder you will see simulators that are already installed in Xcode. Just transfer our iPhoneSimulator4.2.sdk here;
Restart Xcode;
If your project supports iOS 4.2, then the corresponding simulator will be available.