I had the same problem and thought it was a mistake. But that was my misunderstanding.
What is actually going on:
The Custom Class drop-down list shows only those custom classes that are subclasses of the selected feature class.
For example, if we have an imageview object in xib and after selecting it, when we see a drop-down list of a user class, it will show only user classes inherited from (subclass) of UIImageView.
What I did wrong was looking for those user classes that are subclasses of UIView.
In your case, this may not be 100% certain, due to your TimerCVC being a subclass of UICollectionViewController, not a UIViewController.
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