I have followed what Kiong answered.
Sharing all my steps (with prints), in my case I opened Android Studio and then, in the menu, navigated through Tools -> Android -> AVD Manager.
As seen at the image below, I had a message that "Android Emulator is incompatible with Hyper-V."

I have followed the steps suggested (as below):
Unfortunately, you cannot have Hyper-V running and use the emulator.
Here is what you can do:
- Start a command prompt as Administrator
- Run the following command: C:\Windows\system32> bcdedit /set hypervisorlaunchtype off
- Reboot your machine.
After the system reboot, I opened the same window (AVD Manager), and a next warning was available, to install HAXM:

After that, the emulator started, but very slow. The next suggestion was to install a better emulator using x86 which gives better performance in my machine (10x faster):
Google Play Intel x86 Atom System Image (system-images;android-24;google_apis_playstore;x86)

I shared the same answer here too.