Some of our students have experienced issues running Anaconda after they have updated to macOS Catalina. The below quote is the official response by Anaconda Team on why the update broke the installation:
Apple has decided that Anaconda’s default install location in the root folder is not allowed. It moves that folder into a folder on your desktop called “Relocated Items,” in the Security folder. If you’ve used the .pkg installer for Anaconda, this probably broke your Anaconda installation.
You can read more about it here:
Here is another very detailed solution provided by @quinones: