ERROR Warning: Maximum update depth exceeded

Question

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.

useEffect(() => {
    hitAPI();
  }, []);
  const hitAPI = () => {
    axios.get('https://restcountries.com/v2/all').then(response => {
      setAllCountries(response.data);
      let temp = [...response.data];
      for (let i = 0; i < temp.length; i++) {
        if (temp[i].callingCodes == 91) {
          setSelectedItem(temp[i]);
        }
      }
      console.log(setItem, 'item');
      setloading(false);
    });
  };

@react-navigation/material-top-tabs using this for tab screen and after install pkg getting following error 'Attempts to invoke virtual method 'android.graphics.drawable android.graphic' error