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Apple has pulled the iOS and iPadOS 17.3 Beta 2 update due to many users' devices boot looping as a result of the update.
Right now, the only way to fix boot-looping devices is to restore the device back to a prior backup, like 17.3 Beta 1 or 17.2.1.
According to developer Guilherme Rambo, the boot loop is caused by the "backboard" system process, which among many things handles touch input.1 The bug may be related to the Back Tap feature on the iPhone.
Some users have been able to install 17.3 Beta 2 without any issues, so it may or may not work for you. I advise everyone to stay on 17.3 Beta 1 and wait for Beta 3 or a fixed Beta 2 to be released (or just stay on the newest stable release).