Just posting this for future readers.
I downloaded and installed Xcode 2 days ago without running it.
I think that was the reason the tool chain broke.
Xcode must have deleted the components that V-play Qt Editor was using upon downloading/installing Xcode.
Today after posting the previous post describing the tool chain being broken, I thought of it and tried actually running Xcode. By running it it requested to install other components it requires. After that, I tested Qt V-play again and now it is back to normal.
Ok…I hope that helps other people who encounter this problem….