Error “Minimum supported Gradle version is 7.0.2. Current version is 6.8.“ in Android Studio

Likely means:

• Your "\gradle"-folder is missing from your project folder:
  (Note: Not to be mistaken for the ".gradle"-folder which is a different folder)

  Solution:
  Get a copy of the "\gradle"-folder from another working project (or create a new project).

Or:

• Your "\gradle\wrapper\gradle-wrapper.properties" has an incorrect value in the "distributionUrl=":

  Solution:
  Change the value in "\gradle\wrapper\gradle-wrapper.properties" to
  distributionUrl=https\://services.gradle.org/distributions/gradle-7.0.2-bin.zip