I also faced this error in Android simulator and physical device, using the fetch() API and this software versions:
"expo": "^50.0.15",
"react-native": "0.73.6",
and as some of the answers have stated, the solution in my case can be reduced to two things:
1- Don't use FormData objects to send data. Instead, use a standard JS object and apply JSON.stringify() to it when sending the request.
2- If you send the request successfully, using HTTP only, then you have some sort of problem with your SSL certificate. Make sure it has not expired, it is valid for your domain/subdomain name and it was issued by a valid CA.