I was also having the same issue 2 days ago when i update my android studio, today I solve my issue when I was playing around with settings then I saw that in my SDK tools setting Android Emulator is uncheck so I simply checked that box and now emulator is working fine.
Try this steps may work for you also:
- Go to SDK tools > SDK Tools
- Check Android Emulator and click Apply
UPDATE:
There are changes, though it's installed, you might need to update
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