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
3、SDK环境变量不对
Setting the system variable ANDROID_SDK_ROOT to the path used by Android studio solved the issue for me:
In Android Studio fire up Tools>Android>SDK Manager, navigate to Appearance & behavior>System Settings>Android SDK
Copy the path from "Android SDK Location"
Add ANDROID_SDK_ROOT to your system variables and assign the path
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.