I am trying to setup Android Studio on my refurbished M1 MBP. I am getting stuck in Android Studio Setup Wizard where it is giving me an error. Another thing I notice is there is no Android/sdk directory created in my Library folder when I install Android Studio. So during installation, the sdk is not being downloaded. I have spent hours on this and haven't been able to find this scenario online. Shouldn't this just work out-of-box? What am I missing here?
I downloaded from https://developer.android.com/studio (Mac with Apple chip - android-studio-2020.3.1.25-mac_arm.zip)